NEW YORK, Oct. 16, 2006 (PRIMEZONE) -- The Securities Arbitration Law Firm of Klayman & Toskes, P.A. ("K&T") (http://www.nasd-law.com), representing numerous high net-worth investors throughout the nation, advises all individuals who are eligible to participate in the Settlement of the In Re HealthSouth Corporation Securities Litigation ("Class Action") (No. CV-03-BE-1500-S), that they have until December 15, 2006 to opt-out of the Class.
As UBS PaineWebber ("UBS") is a Non-Settling Defendant of the Class Action, K&T strongly encourages all UBS customers who sustained losses in HealthSouth (OTCBB:HLSH) stock or options in their accounts, to consider securities arbitration against UBS as an alternative means to recover their financial losses. Empirical evidence shows that investors may achieve an overall higher rate of recovery by filing an individual securities arbitration claim.
According to the allegations in the Class Action, HealthSouth, along with their investment bankers, conducted a systematic and pervasive scheme to inflate HealthSouth's financial statements in order to meet Wall Street's earnings expectations, including the creation of false revenue and income, capitalizing normal operating expenses, failing to write off impaired assets and defrauding Medicare and various private insurers. Such wrongful conducted caused investors to sustain severe economic damage.
As such, K&T plans to assist individual investors who held HealthSouth securities while they maintained accounts with UBS to recover their financial losses in securities arbitration claims before the National Association of Securities Dealers and the New York Stock Exchange. K&T strongly encourages all class members of the In Re HealthSouth Corporation Securities Litigation Class Action to contact Jahan K. Manasseh, Esquire, at 888-997-9956, to discuss their legal options and/or the possibility of pursuing an individual securities arbitration claim. You may also visit us on the web at http://www.nasd-law.com.