Kessler Topaz Meltzer & Check, LLP Announces Final Deadline Reminder for Halyard Health, Inc. & Kimberly-Clark Corp. Sharehol...
August 25 2016 - 9:00AM
Business Wire
The law firm of Kessler Topaz Meltzer & Check, LLP announces
that a shareholder class action lawsuit has been filed in United
State District Court for the Southern District of New York against
Halyard Health, Inc. (NYSE: HYH) (“Halyard” or the “Company”) and
Kimberly-Clark Corporation (“Kimberly-Clark”) (NYSE: KMB) on behalf
of investors who (i) purchased or otherwise acquired Kimberly-Clark
securities on or after February 25, 2013 and received Halyard
securities in connection with Kimberly-Clark’s spin-off of Halyard
in October 2014 and/or (ii) purchased or otherwise acquired
Halyard securities between October 21, 2014 and April 29, 2016,
inclusive (the “Class Period”).
FINAL REMINDER: Shareholders who purchased or acquired
their securities during the Class Period may, no later than August
29, 2016, petition the Court to be appointed as a lead plaintiff
representative of the class. For additional information
please visit
https://www.ktmc.com/new-cases/halyard-health-inc#join.
Halyard shareholders who wish to discuss their legal rights or
interests with respect to this action are encouraged to contact
Kessler Topaz Meltzer & Check (Darren J. Check, Esq., D. Seamus
Kaskela, Esq. or Adrienne O. Bell, Esq.) at (888) 299 – 7706 or
(610) 667 – 7706, or via e-mail at info@ktmc.com
Halyard provides health and healthcare supplies and solutions
worldwide. Prior to October 2014, Halyard was the Health Care
operating segment of Kimberly-Clark, a manufacturer of personal
care, consumer tissue, and professional products. In October 2014,
Halyard was spun out of Kimberly-Clark, with Kimberly-Clark
shareholders receiving one share of Halyard stock for every eight
shares of Kimberly-Clark stock they owned as of October 23,
2014.
The complaint alleges that the defendants made materially false
and misleading statements about Halyard’s business, operations and
compliance policies. Specifically, the complaint alleges that the
defendants made false and/or misleading statements and/or failed to
disclose that: (i) Halyard’s MICROCOOL surgical gowns consistently
failed effectiveness tests and failed to meet industry standards;
(ii) Kimberly-Clark and Halyard knowingly provided defective
MICROCOOL surgical gowns to U.S. workers during the Ebola crisis;
and (iii) as a result of the foregoing, the defendants’ public
statements were materially false and misleading at all relevant
times.
According to the complaint, on May 1, 2016, 60 Minutes reported
that Kimberly-Clark and Halyard knowingly provided defective
surgical gowns to U.S. workers at the height of the Ebola crisis.
As reported, a Halyard insider claimed that although Halyard’s
MICROCOOL surgical gowns were prone to leaks and did not
consistently meet the industry safety standards for the treatment
of Ebola, Kimberly-Clark and Halyard nonetheless “aggressively”
marketed the MICROCOOL gowns to hospitals during the Ebola
epidemic.
Following this news, shares of Halyard’s stock declined $1.21
per share, or 4.3%, to close on May 2, 2016 at $26.95 per share, on
heavy trading volume.
Halyard shareholders may, no later than August 29, 2016,
petition the Court to be appointed as a lead plaintiff
representative of the class through Kessler Topaz Meltzer &
Check, or other counsel, or may choose to do nothing and remain an
absent class member. A lead plaintiff is a representative party who
acts on behalf of all class members in directing the litigation. In
order to be appointed as a lead plaintiff, the Court must determine
that the class member’s claim is typical of the claims of other
class members, and that the class member will adequately represent
the class in the action. Your ability to share in any recovery is
not affected by the decision of whether or not to serve as a lead
plaintiff.
Kessler Topaz Meltzer & Check prosecutes class actions in
state and federal courts throughout the country. Kessler Topaz
Meltzer & Check is a driving force behind corporate governance
reform, and has recovered billions of dollars on behalf of
institutional and individual investors from the United States and
around the world. The firm represents investors, consumers and
whistleblowers (private citizens who report fraudulent practices
against the government and share in the recovery of government
dollars). The complaint in this action was not filed by Kessler
Topaz Meltzer & Check. For more information about Kessler Topaz
Meltzer & Check, or for additional information about
participating in this action, please visit www.ktmc.com.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160825005003/en/
Kessler Topaz Meltzer & Check, LLPDarren J. Check, Esq.D.
Seamus Kaskela, Esq.Adrienne O. Bell, Esq.280 King of Prussia
RoadRadnor, PA 19087(888) 299-7706(610) 667-7706info@ktmc.com
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