Update on the Distribution of Net Settlement Funds
The Court has approved the distribution of the Net Settlement Fund to Eligible Class Members under the Court-approved Plan of Allocation. The distribution of the Net Settlement Fund occurred on
July 19, 2024

Subsequent distributions will occur on a rolling basis, provided that net settlement funds are available.

If you have any questions, please contact the Settlement Administrator at
888-256-6156 or info@R1StockholdersLitigation.com

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.  

The settlement administration was completed in May 2024. On May 28, 2024, the Motion for Class Distribution Order was filed. On May 29, 2024, the Court approved the Class Distribution Order. The first distribution of the net settlement fund occurred in July 2024. Subsequent distributions will occur on a rolling basis, provided that net settlement funds are available.

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 Settlement 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.