Izard Nobel LLP Announces Class Action Lawsuit Against Hospira, Inc.
22 Novembro 2011 - 8:18PM
Marketwired
The law firm of Izard Nobel LLP, which has significant experience
representing investors in prosecuting claims of securities fraud,
announces that a lawsuit seeking class action status has been filed
in the United States District Court for the Northern District of
Illinois on behalf of purchasers of the common stock of Hospira,
Inc. ("Hospira" or the "Company") (NYSE: HSP) between March 24,
2009, and October 17, 2011, inclusive (the "Class Period").
The Complaint charges that Hospira and certain of its officers
and directors violated federal securities laws. Specifically,
defendants failed to disclose that: (i) Hospira suffered from
extensive quality control issues, which undermined both the
viability of and the supposed financial savings that would be
generated by Project Fuel, a Company program designed to optimize
Hospira's operations and increase shareholder value; (ii) Hospira
was unable to remedy problems identified in FDA Warning Letters
related to Hospira's infusion pumps, quality control deficiencies,
and manufacturing weaknesses; (iii) Hospira's revenue guidance for
2010 and 2011 was misstated; and (iv) as a result, defendants'
statements regarding Hospira's financial performance and expected
earnings were false.
On October 18, 2011, Hospira announced disappointing preliminary
third quarter financial results and slashed full-year guidance,
pointing to a production disruption at its Rocky Mount, North
Carolina plant, which accounted for approximately 25% of the
Company's sales. Hospira attributed the production slowdown to the
impact of an ongoing FDA investigation. On this news, Hospira
stock, fell $7.85 to close at $29.51 per share.
If you are a member of the class, you may, no later than January
20, 2012, request that the Court appoint you as lead plaintiff of
the class. A lead plaintiff is a class member that acts on behalf
of other class members in directing the litigation. Although your
ability to share in any recovery is not affected by the decision
whether or not to seek appointment as a lead plaintiff, lead
plaintiffs make important decisions which could affect the overall
recovery for class members.
While Izard Nobel LLP has not filed a lawsuit against the
defendants, to view a copy of the Complaint initiating the class
action or for more information about the case, and your rights,
visit: www.izardnobel.com/hospira/, or contact Izard Nobel LLP
toll-free: (800)797-5499, or by e-mail: firm@izardnobel.com. For
more information about class action cases in general, please visit
our website: www.izardnobel.com.
CONTACT: Nancy A. Kulesa (800)797-5499 www.izardnobel.com Email
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