NEW YORK, March 27, 2003 (PRIMEZONE) -- Kaplan Fox & Kilsheimer LLP (kaplanfox.com) filed a class action against HealthSouth Corporation ("HealthSouth" or the "Company") (NYSE:HRC) and certain of its officers and directors, in the United States District Court for the Northern District of Alabama. This suit is brought on behalf of all persons or entities, other than defendants, who purchased HealthSouth securities between March 31, 1998 and March 18, 2003, inclusive (the "Class Period").
The complaint alleges that HealthSouth and certain of its officers and directors violated the federal securities laws by issuing false and misleading financial statements during the Class Period. The Complaint alleges that shortly after HealthSouth's initial public offering in 1986, the Company began to artificially inflate its earnings to match Wall Street analysts' expectations and maintain the market price of HealthSouth's common stock. Between 1999 and the second quarter of 2002, HealthSouth intentionally overstated its earnings by at least $1.4 billion.
Plaintiff seeks to recover damages on behalf of the proposed Class and is represented by Kaplan Fox & Kilsheimer LLP. Our firm, with offices in New York, San Francisco, Chicago and New Jersey, has many years of experience prosecuting investor class actions and actions involving financial fraud. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.
If you are a member of the proposed Class, you may move the court no later than May 20, 2003 to serve as a lead plaintiff for the Class. In order to serve as a lead plaintiff, you must meet certain legal requirements.
If you have any questions about this Notice, the action, your rights, or your interests, please e-mail us at mail@kaplanfox.com or contact:
Frederic S. Fox, Esq. Hae Sung Nam, Esq. Kaplan Fox & Kilsheimer LLP 805 Third Avenue, 22nd Floor New York, NY 10022 (800) 290-1952 (212) 687-1980 Fax: (212) 687-7714 E-mail address: mail@kaplanfox.com Laurence D. King, Esq. Kaplan Fox & Kilsheimer LLP 555 Montgomery Street San Francisco, CA 94111 (415) 772-4700 Fax: (415) 772-4707 E-mail address: mail@kaplanfox.com
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca