The Shareholders Foundation announced that a deadline is coming up on January 31, 2017 in the lawsuit filed for certain investors in NYSE:ZBH over alleged violations of securities laws 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 email@example.com or call +1(858) 779 – 1554.
The plaintiff claims that 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 NYSE:ZBH shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego