LEXINGTON, KY / ACCESSWIRE / July 22, 2016 / The law firm of Mehr, Fairbanks & Peterson Trial Lawyers, PLLC announces that a shareholder class action lawsuit has been filed 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").
Shareholders who purchased or acquired Halyard 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 www.mehrfairbanks.com/halyardhealth/.
Investors who wish to discuss this action and their legal options are encouraged to contact Mehr, Fairbanks & Peterson Trial Lawyers, PLLC (Erik D. Peterson, Esq.) at (800) 249-3731 or via e-mail at contact@austinmehr.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 throughout the Class Period 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 Mehr, Fairbanks & Peterson Trial Lawyers, PLLC, 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.
For more information about Mehr, Fairbanks & Peterson Trial Lawyers, PLLC, or for additional information about participating in this action, please visit www.mehrfairbanks.com. This is an advertisement.
CONTACT:
Mehr, Fairbanks & Peterson Trial Lawyers, PLLC
Erik D. Peterson, Esq.
201 W. Short Street, STE 800
Lexington, KY 40502
1-800-249-3731 (toll free)
contact@austinmehr.com
SOURCE: Mehr, Fairbanks & Peterson Trial Lawyers, PLLC
ReleaseID: 442721
