|  | | 2012 News and Press Releases | | |
DISMISSAL NEWS:
7th Circ. Rejects Securities Suit Over Zimmer Hip Implant
Jamie Santo
Law360 - Securities. May 21, 2012
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EXCERPT: The Seventh Circuit on Monday refused to reinstate a securities suit aimed at orthopedic implant maker Zimmer Holdings Inc. and its allegedly faulty Durom Cup hip implant, ruling that even a proposed amended version of the suit failed to meet the heightened pleading standards for fraud. Lodged by a union pension fund in August 2008, the putative class action alleged Zimmer and its top executives defrauded investors by making misleading statements about the high failure rate one surgeon experienced with the Durom Cup and downplaying manufacturing...
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