The Shareholders Foundation announced that an investor in NYSE:ZBH shares filed a lawsuit over alleged violations of Federal Securities Laws by Zimmer Biomet Holdings Inc.
Investors who purchased shares of Zimmer Biomet Holdings Inc (NYSE:ZBH) have certain options and for certain investors are short and strict deadlines running. Deadline: January 31, 2017. NYSE:ZBH investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
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 NYSE:ZBH shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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