Lawsuit Overview
June 12, 2012 - The U.S. Court of Appeals for the Seventh Circuit affirmed the judgement of the U.S. District Court.
February 25, 2011 - The lead plaintiff filed a notice of appeal.
January 28, 2010 - The court dismissed the case without prejudice.
December 1, 2009 - The court granted defendants' motion to dismiss without prejudice.
February 23, 2009 - Defendants filed a motion to dismiss.
December 24, 2008 - The lead plaintiff filed an amended complaint.
October 27, 2008 - Lead plaintiff and lead counsel were appointed.
October 6, 2008 - Lead plaintiff motion was filed.
August 5, 2008 - An investor in shares of Zimmer Holdings Inc (NYSE: ZMH) filed a lawsuit in the U.S. District Court for the Southern District of Indiana against Zimmer Holdings Inc and its two top officers for violations of the 1934 Act between January 29, 2008 and July 22, 2008.
The Complaint charges that Zimmer Holdings Inc and certain of its officers and directors violated federal securities laws by materially misrepresenting Zimmer Holdings Inc and its products. Specifically, the complaint charges that defendants failed to disclose material flaws in the quality systems at Zimmer Holdings Inc’s Dover, Ohio facility, which manufactured Zimmer Orthopedic Surgical Products. In addition, defendants failed to disclose that patients receiving Zimmer Holdings Inc’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 Holdings Inc’s common stock traded at artificially inflated prices between January 29, 2008 and July 22, 2008. When the true condition of Zimmer Holdings Inc, its facilities, and its products began to come to light, the price of Zimmer Holdings Inc stock declined, falling from $70.88 to $66.01 per share in one day.