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Case Status:    SETTLED
On or around 05/21/2020 (Settlement preliminarily approval)

Filing Date: December 02, 2016

According to the law firm press release, Zimmer, through various subsidiaries and related entities, designs develops and manufactures medical equipment. The company offers orthopedic and dental reconstructive implants, spinal implants, trauma products, and related surgical products.

According to the complaint filed in this lawsuit, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that supply chain problems led to a decrease in order fulfillment rates, most notably within Zimmer’s knee and hip portfolios; (2) that, as such, the Company would not achieve its revenues and profit forecast; and (3) that, as a result of the foregoing, Defendants’ statements about Zimmer’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

On April 3, 2017, the Court issued an Order appointing Lead Plaintiffs and Counsel. Lead Plaintiffs filed an amended Complaint on June 16, a corrected amended Complaint on June 28, and a second amended Complaint on October 5. Defendants filed a Motion to Dismiss the second amended Complaint on December 20. On September 26, 2018, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss the second amended Complaint. Lead Plaintiff filed a second amended Complaint on March 21, 2019. On April 14, 2020, the parties entered into a Stipulation and Agreement of Settlement. The Court granted preliminary approval of the Settlement on May 21.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Medical Equipment & Supplies
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: ZBH
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. Indiana
DOCKET #: 16-CV-00815
JUDGE: Hon. Theresa L Springmann
DATE FILED: 12/02/2016
CLASS PERIOD START: 09/07/2016
CLASS PERIOD END: 10/31/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Prongay & Murray LLP
  2. Katz & Korin, PC
No Document Title Filing Date
COURT: N.D. Indiana
DOCKET #: 16-CV-00815
JUDGE: Hon. Theresa L Springmann
DATE FILED: 03/21/2019
CLASS PERIOD START: 06/07/2016
CLASS PERIOD END: 11/07/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Prongay & Murray LLP
  2. Katz Korin Cunningham PC
  3. Kirby McInerney LLP (New York)
No Document Title Filing Date
—Related District Court Filings Data is not available