NEW YORK, July 24, 2008 (LAWFUEL) — Roy Jacobs & Associates
announces that it is investigating Zimmer Holdings Inc. (“Zimmer” or
the “Company”, NYSE:ZMH) for securities law and other violations in
light of the revelation on July 23, 2008 that high rates of repeat
surgery involving one of its key products, the Durom Cup hip
replacement component, caused the Company to suspend the product’s U.S.
sales. The Company also cut its 2008 financial forecast, largely
because it projected a loss of $20 million to $30 million in
hip-products sales related to the Durom suspension. It is expected that
the product will be off market into 2009, and analysts predict that
much of the lost revenue will not return. Upon the revelation of this
information, Zimmer shares dropped over $4.00 on greatly increased
volume.
If you are interested in discussing this matter please call
1-888-884-4490 or email to rjacobs@jacobsclasslaw.com.
It appears that the Durom product has resulted in numerous complaints
by patients and some surgeons of early and unexpected failure of the
device. It appears that there may be a design problem which had not
previously been revealed. The Company maintains there is no defect in
the product and it appeared to blame the surgeons for any patient
issues. At least one surgeon who had previously stopped using the
product asserted that the Durom was a bad design.
If you: (i) purchased Zimmer shares between July 6, 2006 and July 22,
2008 at prices higher than the present market price (regardless of
whether you have sold them); (ii) you have held Zimmer shares for a
substantial period of time and still hold them; and you are interested
in discussing your rights free of charge, please contact Roy L. Jacobs.
Mr. Jacobs will speak with you personally at no cost or obligation.
