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: (1) Halyard's MICROCOOL surgical gowns consistently failed effectiveness tests and failed to meet industry standards; (2) Kimberly-Clark and Halyard knowingly provided defective MICROCOOL surgical gowns to U.S. workers during the Ebola crisis; and (3) 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.
If you are a member of the class, you may, no later than August 29, 2016, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed 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. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.
For more information regarding this, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at email@example.com or visit: www.rmclasslaw.com/cases/hyh. For more information about class action cases in general or to learn more about Ryan & Maniskas, LLP, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
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