San Diego, CA -- (SBWire) -- 01/24/2017 --A deadline is coming up on January 31, 2017 in the lawsuit filed for investors of Zimmer Biomet Holdings Inc (NYSE:ZBH) over alleged securities laws violations by Zimmer Biomet Holdings Inc.
Investors who purchased shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) have certain options and there are strict and short deadlines running. Deadline: January 31, 2017. NYSE:ZBH stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
According to the complaint filed in the U.S. District Court for the Northern District of Indiana the plaintiff alleges on behalf of purchasers of Zimmer Biomet Holdings Inc (NYSE:ZBH) common shares between September 7, 2016 and October 31, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between September 7, 2016 and October 31, 2016 the Defendants failed to disclose that supply chain problems led to a decrease in order fulfillment rates, most notably within Zimmer's knee and hip portfolios, that, as such, the Company would not achieve its revenues and profit forecast, and that, as a result of the foregoing, Defendants' statements about Zimmer's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
Then on October 31, 2016 Zimmer Biomet Holdings Inc announced that it was reducing its full-year forecast for 2016 from a previous estimate of $7.71 billion, Zimmer Biomet Holdings Inc said it now predicts revenues to be between $7.63 billion and $7.65 billion.
Following the press release, in a conference call with investors, the Defendant Florin stated: "Third quarter revenue was below our expectations, primarily due to execution issues within our large joint supply chain, which led to a degradation in order fulfillment rates late in the quarter as well as our performance in dental. . . . As a consequence, we underestimated demand for certain key cross-sell brands within our existing customer base, leading to a depletion of our safety stocks and also affecting our ability to capitalize on new customer opportunities." Shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) declined to as low as $95.63 per share on November 14, 2016.
Those who purchased shares of Zimmer Biomet Holdings Inc have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
Deadline Upcoming in Lawsuit for Certain Investors Who Purchase Shares of Zimmer Biomet Holdings Inc (NYSE:ZBH)
A Deadline is coming up on January 31, 2017 in the lawsuit for investors in Zimmer Biomet Holdings Inc (NYSE:ZBH) and NYSE:ZBH stockholders should contact the Shareholders Foundation.