Notice is hereby given that a class action lawsuit has been filed on behalf of those who (1) purchased or otherwise acquired Kimberly-Clark Corporation (“Kimberly-Clark”) (NYSE: KMB) securities on or after February 25, 2013 (the “Kimberly-Clark Class Period”) and subsequently received Halyard Health, Inc. (“Halyard”) (NYSE: HYH) securities pursuant to Kimberly-Clark’s spin-off of Halyard, effective as of October 31, 2014; and/or (2) purchased or otherwise acquired Halyard securities between October 21, 2014 and April 29, 2016, both dates inclusive (the “Halyard Class Period” and, together with the Kimberly-Clark Class Period, the “Class Period”)
Halyard investors may receive additional information about the case by clicking the link "Join this Class Action" above.
According to the complaint, Halyard provides health and healthcare supplies and solutions worldwide. Halyard operates through two segments, Surgical and Infection Prevention (S&IP), and Medical Devices. Prior to October 2014, Halyard was the Health Care operating segment of Kimberly-Clark, a manufacturer of personal care, consumer tissue, and professional products.
The complaint alleges that throughout the Class Period, the defendants made materially false and misleading statements regarding Halyard’s business, operational and compliance policies. Specifically, the complaint alleges that the defendants made false and/or misleading statements and/or failed to disclose that: (i) the Halyard’s MICROCOOL surgical gowns consistently failed effectiveness tests and failed to meet industry standards; (ii) Kimberly-Clark and Halyard had 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 had knowingly provided defective surgical gowns to U.S. workers at the height of the Ebola crisis. A Halyard 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.
Following this news, Halyard stock fell $1.21, or 4.3%, to close at $26.95 on May 2, 2016.
If you are a member of the class described above, you may no later than August 29, 2016 move the Court to serve as lead plaintiff of the class, if you so choose.
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. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at email@example.com. For more information about Kessler Topaz Meltzer & Check, LLP, please visit our website at http://www.ktmc.com. If you would like additional information about the suit, please fill out the attached form as promptly as possible and return it by fax to 610-667-7056, or by mail in the enclosed envelope.
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at firstname.lastname@example.org