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Zimmer Holdings, Inc. Summary: The original Complaint charges that Zimmer and certain of its officers and directors violated federal securities laws by materially misrepresenting the Company and its products. Specifically, the complaint charges that defendants failed to disclose material flaws in the quality systems at Zimmer's Dover, Ohio facility, which manufactured Zimmer Orthopedic Surgical Products. In addition, defendants failed to disclose that patients receiving the Company's Durom Acetabular Component, used in total hip replacement procedures, disproportionately experienced cup loosening requiring additional corrective surgery after implantation. As a result of defendants' materially false and misleading statements, Zimmer's common stock traded at artificially inflated prices during the Class Period. When the true condition of the Company, its facilities, and its products began to come to light, the price of Zimmer stock declined, falling from $70.88 to $66.01 per share in one day.
On October 27, 2008, the judge entered an order appointing Plumbers and Pipefitters Local Union 719 Pension Fund as lead plaintiff and approving its selection of lead and liaison counsel. A Consolidated Class Action Complaint was filed on December 24, 2008. On February 23, 2009, the defendants responded by filing a motion to dismiss the Consolidated Complaint.
INDUSTRY CLASSIFICATION:
SIC Code: 3842
Sector: Healthcare
Industry: Medical Equipment & Supplies
| COMPANY/ISSUER NAME: | Zimmer Holdings, Inc. |
| COMPANY/ISSUER TICKER: | ZMH |
| COMPANY WEBSITE: | http://investor.zimmer.com/ |
| FIRST IDENTIFIED COMPLAINT IN THE DATABASE | |||||||||||||||||
| Plumbers And Pipefitters Local Union 719 Pension Fund, et al. v. Zimmer Holdings, Inc., et al. | |||||||||||||||||
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| DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT | |||
| Class Action Complaint For Violations Of Federal Securities Laws | |||
| Type: Complaint | Date on the document: 8/5/2008 | ||
| Order Appointing The Plumbers And Pipefitters Local Union 719 Pension Fund As Lead Plaintiff And Approving Its Selection Of Lead And Liaison Counsel | |||
| Type: Order Appointing LP/LC | Date on the document: 10/27/2008 | ||
| REFERENCE COMPLAINT | |||||||||||||||||
| Plumbers And Pipefitters Local Union 719 Pension Fund, et al. v. Zimmer Holdings, Inc., et al. | |||||||||||||||||
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| DOCUMENTS FOR THE REFERENCE COMPLAINT | |||
| Consolidated Complaint For Violations Of The Federal Securities Laws | |||
| Type: Complaint | Date on the document: 12/24/2008 | ||
| U.S. District Court Civil Docket | |||
| Type: Docket | Date on the document: 10/01/2009 | ||
| OTHER DOCUMENTS | |||
| Case Name and/or Number: | |||
| Type: | Date on the document: | ||
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