WAYNE, Pa., Aug. 19, 2016 /PRNewswire/ -- Ryan &
Maniskas, LLP announces that a class action lawsuit has been filed
in United States District Court for the Southern District of
New York against Halyard Health,
Inc. (NYSE: HYH) ("Halyard" or the "Company") and Kimberly-Clark
Corporation ("Kimberly-Clark")
(NYSE: KMB) on behalf of investors who (1) purchased or otherwise
acquired Kimberly-Clark securities
on or after February 25, 2013 and
received Halyard securities in connection with
Kimberly-Clark's spin-off of
Halyard in October 2014 and/or (2)
purchased or otherwise acquired Halyard securities between
October 21, 2014 and April 29, 2016, inclusive (the "Class
Period").
Hain shareholders may, no later than August 29, 2016, move the Court for appointment
as a lead plaintiff of the Class. If you purchased shares of
Hain and would like to learn more about these claims or if you wish
to discuss these matters and have any questions concerning this
announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877)
316-3218 or to sign up online, visit:
www.rmclasslaw.com/cases/hyh.
Halyard provides health and healthcare supplies and solutions
worldwide. Prior to October 2014,
Halyard was the Health Care operating segment of
Kimberly-Clark, a manufacturer of
personal care, consumer tissue, and professional products. In
October 2014, Halyard was spun out of
Kimberly-Clark, with
Kimberly-Clark shareholders
receiving one share of Halyard stock for every eight shares of
Kimberly-Clark stock they owned as
of October 23, 2014.
The complaint alleges that the defendants made materially false
and misleading statements about Halyard's business, operations and
compliance policies. Specifically, the complaint alleges that the
defendants made false and/or misleading statements and/or failed to
disclose: (1) Halyard's MICROCOOL surgical gowns consistently
failed effectiveness tests and failed to meet industry standards;
(2) Kimberly-Clark and Halyard
knowingly provided defective MICROCOOL surgical gowns to U.S.
workers during the Ebola crisis; and (3) 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 knowingly provided defective
surgical gowns to U.S. workers at the height of the Ebola crisis.
As reported, a Halyard insider claimed that although Halyard's
MICROCOOL surgical gowns were prone to leaks and did not
consistently meet the industry safety standards for the treatment
of Ebola, Kimberly-Clark and
Halyard nonetheless "aggressively" marketed the MICROCOOL gowns to
hospitals during the Ebola epidemic.
Following this news, shares of Halyard's stock declined
$1.21 per share, or 4.3%, to close on
May 2, 2016 at $26.95 per share, on heavy trading volume.
If you are a member of the class, you may, no later than
August 29, 2016, request that the
Court appoint you as lead plaintiff of the class. 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.
Under certain circumstances, one or more class members may
together serve as "lead plaintiff." Your ability to share in
any recovery is not, however, affected by the decision whether or
not to serve as a lead plaintiff. You may retain Ryan &
Maniskas, LLP or other counsel of your choice, to serve as your
counsel in this action.
For more information regarding this, please contact Ryan &
Maniskas, LLP (Richard A. Maniskas,
Esquire) toll-free at (877) 316-3218 or by email at
rmaniskas@rmclasslaw.com or visit:
www.rmclasslaw.com/cases/hyh. For more information
about class action cases in general or to learn more about Ryan
& Maniskas, LLP, please visit our website:
www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation
firm. Ryan & Maniskas, LLP is devoted to protecting the
interests of individual and institutional investors in shareholder
actions in state and federal courts nationwide.
CONTACT: Ryan & Maniskas,
LLP
Richard A. Maniskas,
Esquire
995 Old Eagle School Rd., Suite
311
Wayne, PA
19087
484-588-5516
877-316-3218
www.rmclasslaw.com/cases/hyh
rmaniskas@rmclasslaw.com
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SOURCE Ryan & Maniskas, LLP