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No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Zimmer common stock during the period described above, you have certain rights, and have until no later than October 6, 2008 in which to move for Lead Plaintiff status. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. 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 Sue Lee at The Brualdi Law Firm, P.C. 29 Broadway, Suite 2400, New York, New York 10006, by telephone toll free at (877) 495-1187 or (212) 952-0602, by email to slee@brualdilawfirm.com or visit our website at http://www.brualdilawfirm.com.
The complaint alleges that during the Class Period, defendants materially misrepresented 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.
This news release was distributed by PrimeNewswire, www.primenewswire.com
SOURCE: The Brualdi Law Firm
The Brualdi Law Firm, P.C. Sue Lee, Esq. (212)-952-0602 (877)-495-1187 slee@brualdilawfirm.com
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