NEW YORK, Dec. 9, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Zimmer Biomet Holdings, Inc. (NYSE: ZBH) ("Zimmer Biomet" or the "Company"). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Zimmer Biomet and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On October 31, 2016, the Company published a press release reporting third quarter 2016 financial results. The Company reported net sales of $1.83 billion, and lowered guidance for the full year 2016 to $7.630 billion to $7.650 billion, down from the $7.68 billion to $7.715 billion estimated in July. The Company reported that the sales weakness stemmed from a change in the supply chain infrastructure, which led to shortfalls in the availability of implants and instrument sets during the quarter.
On this news, Zimmer Biomet's share price fell $17.15 per share, or 13.99%, to close at $105.40 on October 31, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP