NEW YORK, Nov. 30, 2011 /PRNewswire/ -- Levi &
Korsinsky 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 Hospira, Inc. ("Hospira" or the "Company") (NYSE: HSP) common
stock between March 24, 2009 and
October 17, 2011.
For more information, click here:
http://zlk.9nl.com/hospira-hsp.
The complaint alleges that throughout the Class Period,
defendants issued materially false and misleading statements
regarding the Company's business and financial results.
Specifically, defendants failed to disclose that: (a) the Company
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;
(b) the Company was unable to remedy problems identified in FDA
Warning Letters related to Hospira's infusion pumps, quality
control deficiencies, and manufacturing weaknesses; (c) Hospira
misstated and lacked a reasonable basis for its revenue guidance
for 2010 and 2011; and (d) as a result of the foregoing,
defendants' statements regarding the Company's financial
performance and expected earnings were false and misleading.
In reaction to the Company's negative results, on October 18, 2011 Hospira common stock fell
$7.85 per share to close at
$29.51 per share.
If you suffered a loss in Hospira stock you have until
January 20, 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
obtain additional information, contact Joseph E. Levi, Esq. either via email at
jlevi@zlk.com or by telephone at (877) 363-5972, or visit
http://www.zlk.com/hospira-hsp.html.
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation. Attorney advertising. Prior results do not guarantee
similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY
10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP