This is a securities fraud class action lawsuit against Zimmer Holdings Inc and certain officers and directors.
Zimmer manufactures orthopedic surgical products.
The class action complaint charges that Zimmer and certain of its officers and directors violated federal securities laws by materially misrepresenting Zimmer and its products. Specifically, the class action complaint charges that Zimmer Holdings failed to disclose material flaws in the quality systems at Zimmer's Dover, Ohio facility, which manufactured Zimmer Orthopedic Surgical Products. In addition, Zimmer Holdings failed to disclose that patients receiving Zimmer's Durom Acetabular Component, used in total hip replacement procedures, disproportionately experienced cup loosening requiring additional corrective surgery after implantation.
As a result of Zimmer Holdings' materially false and misleading statements, Zimmer Holdings' common stock traded at artificially inflated prices during the Class Period. When the true condition of Zimmer Holdings, its facilities, and its products began to come to light, the price of Zimmer Holdings stock declined, falling from $70.88 to $66.01 per share in one day.
Name (Stock Symbol)
Zimmer Holdings, Inc. (ZMH)
Zimmer Holdings, Inc., through its subsidiaries, engages in the design, development, manufacture, and marketing of orthopaedic and dental reconstructive implants, spinal implants, trauma products, and related surgical products.
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