Zimmer Biomet Holdings Inc. Common Stock (NYSE: ZBH)
According to the law firm press release, Zimmer, through various subsidiaries and related entities, designs develops and manufactures medical equipment. The company offers orthopedic and dental reconstructive implants, spinal implants, trauma products, and related surgical products.
According to the complaint filed in this lawsuit, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that supply chain problems led to a decrease in order fulfillment rates, most notably within Zimmer's knee and hip portfolios; (2) that, as such, the Company would not achieve its revenues and profit forecast; and (3) 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.