Glancy Binkow & Goldberg LLP Announces That a Class Action Lawsuit Against Hospira, Inc. Has Been Filed & the Lead Plaintiff ...
23 Dezembro 2011 - 7:00PM
Business Wire
Glancy Binkow & Goldberg LLP announces that a class action
lawsuit has been commenced in the United States District Court for
the Northern District of Illinois on behalf of investors who
purchased common stock of Hospira, Inc. ("Hospira" or the
"Company") (NYSE:HSP) between March 24, 2009 and October 17, 2011,
inclusive (the “Class Period”) alleging violations of the
Securities and Exchange Act of 1934 (the “Complaint”).
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 suffered a loss in Hospira you have until February 12,
2012 to request that the Court appoint you as lead plaintiff. Your
ability to share in any recovery doesn't require that you serve as
a lead plaintiff. To be a member of the class you need not take
action at this time; you may retain counsel of your choice or take
no action and remain an absent class member. If you wish to discuss
this action or have any questions concerning this Notice or your
rights or interests with respect to these matters, please contact
Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP,
1925 Century Park East, Suite 2100, Los Angeles, California 90067,
by telephone at (310) 201-9150, Toll Free at (888) 773-9224, by
e-mail to shareholders@glancylaw.com, or visit our website at
http://www.glancylaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
Hospira (NYSE:HSP)
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