RADNOR, Pa., July 12, 2016 /PRNewswire/ -- The law firm
of Kessler Topaz Meltzer & Check, LLP announces that a
shareholder class action lawsuit has been filed against Halyard
Health, Inc. (NYSE: HYH) ("Halyard" or the "Company") and
Kimberly-Clark Corporation ("Kimberly-Clark") (NYSE: KMB) on behalf of investors who
(i) 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 (ii) purchased or
otherwise acquired Halyard securities between October 21, 2014 and April
29, 2016, inclusive (the "Class Period").
Shareholders who purchased or acquired
Halyard securities during the Class Period may, no later than
August 29, 2016, petition the Court
to be appointed as a lead plaintiff representative of the
class. For additional information please visit
https://www.ktmc.com/new-cases/halyard-health-inc#join.
Investors who wish to discuss this action and their legal
options are encouraged to contact Kessler Topaz Meltzer &
Check, LLP (Darren J. Check, Esq.,
D. Seamus Kaskela, Esq. or
Adrienne O. Bell, Esq.) at (888)
299-7706 or at info@ktmc.com.
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 throughout the Class Period 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 that: (i)
Halyard's MICROCOOL surgical gowns consistently failed
effectiveness tests and failed to meet industry standards; (ii)
Kimberly-Clark and Halyard
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 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.
Halyard shareholders may, no later than August 29, 2016, petition the Court to be
appointed as a lead plaintiff representative of the class through
Kessler Topaz Meltzer & Check, or other counsel, or may choose
to do nothing and remain an absent class member. A lead
plaintiff is a representative party who acts on behalf of all class
members in directing the litigation. In order to be appointed
as a 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 in the
action. Your ability to share in any recovery is not affected
by the decision of whether or not to serve as a lead
plaintiff.
Kessler Topaz Meltzer & Check prosecutes class actions in
state and federal courts throughout the country. Kessler
Topaz Meltzer & Check is a driving force behind corporate
governance reform, and has recovered billions of dollars on behalf
of institutional and individual investors from the United States and around the world.
The firm represents investors, consumers and whistleblowers
(private citizens who report fraudulent practices against the
government and share in the recovery of government dollars).
The complaint in this action was not filed by Kessler Topaz Meltzer
& Check. For more information about Kessler Topaz Meltzer
& Check, or for additional information about participating in
this action, please visit www.ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
Darren J. Check, Esq.
D. Seamus Kaskela, Esq.
Adrienne O. Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
(888) 299-7706
(610) 667-7706
info@ktmc.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/shareholder-class-action-filed-against-halyard-health-inc-and-kimberly-clark-corporation--hyh-300297396.html
SOURCE Kessler Topaz Meltzer & Check, LLP