Harwood Feffer LLP Announces That a Securities Class Action Lawsuit Has Been Filed Against Hospira Inc.
27 Dezembro 2011 - 6:06PM
Business Wire
Harwood Feffer LLP (www.hfesq.com)
announces that a class action suit was filed in the United States
District Court for the Northern District of Illinois against
Hospira, Inc. (“Hospira” or the “Company”) (NYSE: HSP) on behalf of
all purchasers of Hospira securities between March 24, 2009 and
October 17, 2011 (the “Class Period”).
The complaint accuses the Company and certain officers and
directors of violations of the Securities Exchange Act of 1934 in
connection with the Company's failure to disclose both that Hospira
suffered from extensive quality control issues which undermined the
viability of 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.
On October 18, 2011, the Company announced disappointing
preliminary third quarter financial results and slashed full-year
guidance. The Company blamed the disappointing results on a
production disruption caused by the ongoing FDA investigation at a
North Carolina manufacturing plant which accounted for
approximately 25% of the Company's sales. In response, the value of
Hospira shares declined significantly.
If you purchased Hospira common stock during the Class Period,
you have until February 12, 2012 to ask the Court to appoint you
lead plaintiff for the class. Moreover, current holders of Hospira
common stock purchased at any time may also have a claim. If you
wish to discuss this matter with us, or have any questions
concerning your rights and interests with regard to this matter,
please contact:
Robert I. Harwood, Esq.Benjamin Sachs-MichaelsHarwood Feffer
LLP488 Madison AvenueNew York, New York 10022Phone Numbers: (877)
935-7400(212)935-7400Email: bsachsmichaels@hfesq.comWebsite:
http://www.hfesq.com
Harwood Feffer has been representing individual and
institutional investors for many years, serving as lead counsel in
numerous cases in federal and state courts. Please visit the
Harwood Feffer LLP website (http://www.hfesq.com) for more
information about the firm.
Attorney Advertising. © 2011 Harwood Feffer LLP. The law firm
responsible for this advertisement is Harwood Feffer LLP
(www.hfesq.com). Prior results do not guarantee or predict a
similar outcome with respect to any future matter.
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