An investor in NYSE:HYH shares filed a over alleged Securities Laws violations by Halyard Health, Inc., Kimberly Clark Corp, and certain officers in connection with certain allegedly false and misleading statements.
The lawsuit was filed on behalf of all persons other than Defendants who purchased or otherwise acquired Kimberly Clark Corp (NYSE:KMB) securities on or after February 25, 2013 and subsequently received Halyard Health Inc (NYSE:HYH) securities pursuant to Kimberly-Clark’s spin-off of Halyard Health Inc, effective as of October 31, 2014 and/or purchased or otherwise acquired Halyard Health Inc (NYSE:HYH) securities between October 21, 2014 and April 29, 2016.
Investors who purchased shares of Kimberly Clark Corp (NYSE:KMB) and/or shares of Halyard Health Inc (NYSE:HYH) have certain options and for certain investors are short and strict deadlines running. Deadline: August 29, 2016. NYSE:HYH investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
Prior to October 2014, Halyard was the Health Care operating segment of Kimberly-Clark, a manufacturer of personal care, consumer tissue, and professional products. Kimberly-Clark’s common stock trades on the New York Stock Exchange under the ticker symbol “KMB.” On October 7, 2014, Kimberly-Clark announced the details for the completion of the spin-off of its Health Care segment as Halyard Health, Inc., advising its shareholders that they would receive one share of Halyard Health common stock for every eight shares of Kimberly-Clark common stock held as of the close of trading on October 23, 2014, the record date for the spin-off.
In late 2013, an outbreak of the Ebola virus began in Guinea, subsequently spreading to Liberia, Sierra Leone, and other West African nations. In August 2014, after meeting with health ministers from eleven countries, the World Health Organization designated the outbreak as a Public Health Emergency of International Concern, a rarely-used designation that invokes legal measures on disease prevention, surveillance, control, and response by 194 signatory countries. On September 30, 2014, the United States Centers for Disease Control and Prevention declared the first case of Ebola virus in the United States.
As awareness of the Ebola epidemic grew, demand surged for the personal protective equipment—i.e., eye shields, face masks and disposable gowns—made by Kimberly-Clark’s Health Care segment and subsequently by Halyard, including the Company’s MICROCOOL surgical gowns.
According to the complaint the plaintiff alleges that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that the Defendants made certain allegedly false and/or misleading statements and/or failed to disclose that the Company’s MICROCOOL surgical gowns consistently failed effectiveness tests and failed to meet industry standards, that Kimberly-Clark and Halyard had knowingly provided defective MICROCOOL surgical gowns to U.S. workers during the Ebola crisis, and that as a result of the foregoing, Defendants’ public statements were materially false and misleading at all relevant times.
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.
On May 1, 2016, 60 Minutes reported that Kimberly Clark Corp and Halyard Health Inc had knowingly provided defective surgical gowns to U.S. workers at the height of the Ebola crisis. A Company insider claimed that Halyard Health’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.
Those who purchased NYSE:KMB shares and/or NYSE:HYH securities have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com