Brower Piven Encourages Investors Who Have Losses in Excess of $250,000 From Investment in Hospira, Inc. to Inquire About the...
28 Novembro 2011 - 8:56PM
Marketwired
Brower Piven, A Professional Corporation announces that a class
action lawsuit has been commenced 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) during the period between March 24, 2009 and October
17, 2011, inclusive (the "Class Period").
If you have suffered a net loss for all transactions in Hospira,
Inc. common stock during the Class Period, you may obtain
additional information about this lawsuit and your ability to
become a lead plaintiff by contacting Brower Piven at
www.browerpiven.com, by email at hoffman@browerpiven.com, by
calling 410/415-6616, or at Brower Piven, A Professional
Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153.
Attorneys at Brower Piven have combined experience litigating
securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of
the Class will be represented by the lead plaintiff and counsel
chosen by the lead plaintiff. If you wish to choose counsel to
represent you and the Class, you must apply to be appointed lead
plaintiff no later than January 20, 2012 and be selected by the
Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement and how much of a settlement to accept for the Class in
the action. The lead plaintiff will be selected from among
applicants claiming the largest loss from investment in the Company
during the Class Period. You are not required to have sold your
shares to seek damages or to serve as a Lead Plaintiff.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the Company's failure
to disclose during the Class Period that 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
the Company's operations and increase shareholder value and that
Hospira was unable to remedy problems identified in FDA Warning
Letters related to the Company's infusion pumps, quality control
deficiencies, and manufacturing weaknesses. According to the
complaint, after, on October 18, 2011, the Company announced
disappointing preliminary third quarter financial results and
slashed full-year guidance, pointing to a production disruption at
its Rocky Mount, North Carolina manufacturing plant, which
accounted for approximately 25% of the Company's sales, which the
Company attributed to the impact of an ongoing FDA investigation,
the value of Hospira shares declines significantly.
If you choose to retain counsel, you may retain Brower Piven
without financial obligation or cost to you, or you may retain
other counsel of your choice. You need take no action at this time
to be a member of the class.
CONTACT: Charles J. Piven Brower Piven, A Professional
Corporation Stevenson, Maryland 410/415-6616 Email Contact
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