The information contained on this website is only a summary of the information presented in more detail in the Notice of Pendency and Proposed Settlement of Stockholder Class and Derivative Action, Settlement Hearing, and Right to Appear. Because this website is just a summary, you should review the Notice for additional details.
Summary of the Action and Settlement
This website relates to a stockholder class and derivative action (the "Action”), pending in the Court of Chancery of the State of Delaware (the “Court”).
The parties have reached a settlement of the Action for $45,400,000 in cash and certain amendments to the Second Amended Investor Rights Agreement and the Cloudmed Investor Rights Agreement, as described in paragraph 80 of the Notice (the “Settlement”).
On December 14, 2023, the Court entered an Order and Final Judgment finally approving the Settlement, approving the Plan of Allocation for the calculation of payments from the Net Class Settlement Fund, and awarding attorneys’ fees and litigation expenses to Plaintiff’s Counsel. The Settlement, as approved by the Court, resolves all claims in the Action.
The Settlement Class consists of:
All holders of R1 common stock, whether beneficial or of record, together with their respective heirs, successors in interest, transferees, and assignees, from August 18, 2020, through the close of trading on September 27, 2023.
Excluded from the Settlement Class are (i) Defendants; (ii) any person who is, or was during the Class Period, an officer, director, or partner of R1, R1 RCM Holdco Inc, Project Roadrunner Merger Sub Inc., Revint Holdings, LLC, CoyCo 1, L.P., CoyCo 2, L.P., TCP-ASC ACHI Series LLLP, TowerBrook Capital Partners L.P., Ascension Health Alliance, or New Mountain Capital LLC; (iii) the immediate family members of any of the foregoing; (iv) any trusts, estates, entities, or accounts that held R1 shares for the benefit of any of the foregoing; and (v) the legal representatives, heirs, successors in interest, successors, transferees, and assigns of the foregoing.
If you are a member of the Settlement Class, you may be eligible to receive a pro rata distribution from the Net Class Settlement Fund. Eligible Class Members do not need to submit a claim form in order to receive a distribution from the Net Class Settlement Fund. If you are eligible for a distribution from the Net Class Settlement Fund, it will be paid to you directly. See paragraphs 89-95 of the Notice for further discussion.
Please be patient, as it will take some time to conduct the Settlement distribution.
How do I obtain more information?
Detailed information about the Settlement is contained in the Notice, a copy of which can be found in the menu at the top of this page. Additional information can also be obtained by contacting the Claims Administrator by calling toll-free 888-256-6156; emailing info@R1StockholdersLitigation.com; or mailing a letter to:
R1 Stockholders Litigation
c/o JND Legal Administration
PO Box 91470
Seattle, WA 98111
Inquiries should NOT be directed to the Court or the Clerk of the Court.