| Company: | Zimmer Holdings Inc |
| Ticker Symbol: | ZMH |
| Class Period: | Jan-28-08 to Jul-22-08 |
| Date Filed: | Aug-6-08 |
| Lead Plaintiff Deadline: | Oct-5-08 |
| Court: | District Court for the Southern District of Indiana |
| Allegations: | |
The Complaint charges that Zimmer and certain of its officers and directors violated federal securities laws by materially misrepresenting the Company and its products. Specifically, the complaint charges that defendants failed to disclose material flaws in the quality systems at Zimmer's Dover, Ohio facility, which manufactured Zimmer Orthopedic Surgical Products. In addition, defendants failed to disclose that patients receiving the Company's Durom Acetabular Component, used in total hip replacement procedures, disproportionately experienced cup loosening requiring additional corrective surgery after implantation. As a result of defendants' materially false and misleading statements, Zimmer's common stock traded at artificially inflated prices during the Class Period. When the true condition of the Company, its facilities, and its products began to come to light, the price of Zimmer stock declined, falling from $70.88 to $66.01 per share in one day.
If you are a member of the class, you may, no later than October 6, 2008, 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.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
