Saxena White P.A. Files a Securities Fraud Class Action
Legal Topics | 2011/12/11 18:38
Saxena White P.A. announces that it has filed a class action lawsuit in the United States District Court for the Northern District of Illinois on behalf of investors who purchased Hospira, Inc. common stock on the New York Stock Exchange between March 24, 2009, and October 17, 2011, inclusive.

The complaint charges Hospira and certain of its officers and executives with violations of the Exchange Act. Hospira is a global specialty pharmaceutical and medication delivery company.

The complaint alleges that throughout the Class Period, defendants issued materially false and misleading statements regarding the Company's business and financial results. Specifically, defendants failed to disclose that: (i) Hospira suffered from extensive quality control issues throughout the Class Period, which undermined both the viability of and the supposed financial savings that would be generated by Project Fuel, a Company program designed to optimize Hospira's operations and increase shareholder value; (ii) Hospira was unable to remedy problems identified in FDA Warning Letters related to Hospira's infusion pumps, quality control deficiencies, and manufacturing weaknesses; (iii) Hospira's revenue guidance for 2010 and 2011 was misstated and lacked a reasonable basis when made; and (iv) as a result of the foregoing, defendants' statements regarding the Company's financial performance and expected earnings were false and misleading and lacked a reasonable basis when made.

On October 18, 2011, the Company announced disappointing preliminary third quarter financial results and slashed full-year guidance, pointing to a production disruption at its Rocky Mount, North Carolina manufacturing plant, which accounted for approximately 25% of the Company's sales. The Company attributed the production slowdown to the impact of an ongoing FDA investigation.

The result of the Company's negative results was a 21% drop in the price of Hospira common stock, which fell $7.85 per share to close at $29.51 per share on October 18, 2011.

You may obtain a copy of the complaint and join the class action at www.saxenawhite.com. If you purchased the shares of Hospira, Inc. between the period of March 24, 2009, and October 17, 2011, inclusive, you may contact Joe White or Greg Stone at Saxena White P.A. to discuss your rights and interests.


[PREV] [1] ..[1058][1059][1060][1061][1062][1063][1064][1065][1066].. [1756] [NEXT]
All
Headline Legal News
Legal Topics
Legal Business
Attorney News
Court News
Court Watch
Areas of Focus
Legal Interview
Opinions
Court eyes Massachusetts church-s..
Toys R Us files for Chapter 11 re..
Court: State, Not Counties Accoun..
With 2 in 3 months, Ohio executio..
Rooney gets road ban after pleadi..
3 bank customers in Germany fined..
Indian court sentences 2 men to d..
FBI Searched Ex-Oklahoma Senator'..
Chicago's lawsuit over sanctuary ..
Supreme Court Justice Ginsburg is..
Challenge to $225M Exxon settleme..
Abortion clinic dispute to be arg..
Supreme Court Backs Dayton Veto o..
Supreme Court's Kagan says Scalia..
EU court rejects Hungary, Slovaki..
NC appeals court restores man's l..
S. Indiana city's mayor defends r..
Military parts dealer guilty in p..
Court: DirecTV owes $15M to South..
Not guilty pleas entered in Lake ..




San Francisco Trademark Lawyer
San Francisco Copyright Lawyer
www.onulawfirm.com
Chicago Business Law Attorney
Corporate Litigation Attorneys
www.rothlawgroup.com
Houston Estate Administration Lawyer
www.trishaenglishlaw.com
Car Accidents Attorneys
New Rochelle Personal Injury
www.kboattorneys.com
Surry County Criminal Defense Lawyers
Yadkin County Family Law Attorneys
www.dirussolaw.com
Cobb County Criminal Attorney
Georgia Criminal Defense Lawyer
www.andrewschwartzlaw.com
Santa Ana Workers' Compensation Lawyers
www.gentryashtonlaw.com
Law Firm Web Design Templates
Lawyer Website Templates
www.webpromo.com
   Legal Resource
Headline Legal News for You to Reach America's Best Legal Professionals. The latest legal news and information - Law Firm, Lawyer and Legal Professional news in the Media.
 
 
 
Copyright © ClickTheLaw.com. All Rights Reserved. The content contained on the web site has been prepared by Click The Law. as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. By using the www.clickthelaw.com you agree to be bound by these Terms & Conditions.

Law Firm Website Design by Lawyer Website Design Blog - Lawyer Web Site Design That Works