WILMINGTON, Del., June 29, 2016 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of Halyard Health, Inc. (NYSE:HYH) or Kimberly-Clark Corporation (NYSE:KMB)?
- Did you purchase your shares of Halyard Health, Inc. between October 21, 2014 and April 29, 2016, inclusive?
- Did you purchase your shares of Kimberly-Clark Corporation on or after February 25, 2013 and subsequently received Halyard Health, Inc. securities pursuant to Kimberly-Clark Corporation’s spin-off of Halyard Health, Inc., effective as of October 31, 2014?
- Did you lose money in your investment?
Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities that purchased the common stock of Halyard Health, Inc. (“Halyard” or the “Company”) (NYSE:HYH) between October 21, 2014 and April 29, 2016, inclusive, and/or purchased the common stock of Kimberly-Clark Corporation (“Kimberly-Clark”) (NYSE:KMB) on or after February 25, 2013 and subsequently received Halyard securities pursuant to Kimberly-Clark’s spin-off of Halyard, effective as of October 31, 2014 (collectively, the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased shares of Halyard or Kimberly-Clark during the Class Period, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to info@rl-legal.com; or at: http://rigrodskylong.com/investigations/halyard-health-inc-hyh-kmb.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. Specifically, the Complaint alleges that the defendants concealed that: (1) the Company’s MICROCOOL surgical gowns consistently failed effectiveness tests and failed to meet industry standards; and (2) Kimberly-Clark and Halyard had knowingly provided defective MICROCOOL surgical gowns to U.S. workers during the Ebola crisis. As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.
On May 1, 2016, 60 Minutes reported that Kimberly-Clark and Halyard had knowingly provided defective surgical gowns to U.S. workers at the height of the Ebola crisis. A Company insider claimed that Halyard’s MICROCOOL surgical gowns were prone to leaks and did not consistently meet the industry safety standards for the treatment of Ebola, but that Kimberly-Clark and Halyard had nonetheless “aggressively” marketed the MICROCOOL gowns to hospitals during the epidemic.
On this news, shares of Halyard dropped 4.3%, closing at $26.95 per share on May 2, 2016, on heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later than August 29, 2016. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
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