The information contained on this website is only a summary of the information presented in more detail in the Notice of (I) Pendency of Class Action and Approved Settlement; (II) Settlement Fairness Hearing; and (III) Motion for an Award of Attorneys’ Fees And Reimbursement Litigation Expenses. Because this website is just a summary, you should review the Notice for additional details.
Summary of the Action and Settlement
The Notice relates to an approved Settlement of claims in a securities class action brought by investors alleging, among other things, that defendant Zimmer Biomet Holdings, Inc. (“ZBH” or the “Company”), defendants David C. Dvorak, Daniel P. Florin, Robert J. Marshall Jr., Tony W. Collins (collectively the “Officer Defendants”), and defendants Christopher B. Begley, Betsy J. Bernard, Paul M. Bisaro, Gail K. Boudreaux, Michael J. Farrell, Larry Glasscock, Robert A. Hagemann, Arthur J. Higgins, Michael W. Michelson, Cecil B. Pickett, Ph.D., Jeffrey K. Rhodes (together with the Officer Defendants, “the Individual Defendants,” and, together with ZBH and the Officer Defendants, the “Defendants”) violated the federal securities laws by making false and misleading statements and failing to disclose material facts regarding ZBH during the Settlement Class Period. A more detailed description of the Action is set forth in paragraphs 11-26 of the Notice. The approved Settlement will settle claims of the Settlement Class, as defined in paragraph 27 of the Notice.
The Court-appointed Lead Plaintiffs, Rajesh M. Shah and Matt Brierly (“Lead Plaintiffs”), and additional plaintiffs UFCW Local 1500 and Steven Castillo (together with Lead Plaintiffs, “Plaintiffs”), on behalf of themselves and the Settlement Class (as defined in paragraph 27 of the Notice), have reached an approved settlement of the Action for $50,000,000 in cash that will resolve all claims, whether known or unknown, in the Action (the “Settlement”).
If you are a member of the Class, your rights will be affected and you may be eligible for a payment from the Settlement.
The Settlement Class consists of:
all persons or entities who, between June 7, 2016 and November 7, 2016, inclusive, purchased or otherwise acquired ZBH Common Stock and/or Call Options, and/or wrote ZBH Put Options, and were damaged thereby.
Please read the Notice to fully to understand your rights and options.
If you are a member of the Class, in order to be potentially eligible to receive a payment from the Settlement, you must submit a Claim Form with adequate supporting documentation postmarked no later than October 19, 2020.
Payments to eligible claimants will be made only if the Court approves the Settlement and a plan of allocation, and only after any appeals are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.
|YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT:
|SUBMIT A CLAIM FORM POSTMARKED NO LATER THAN OCTOBER 19, 2020.
||This is the only way to be eligible to receive a payment from the Settlement Fund. If you are a Settlement Class Member and you remain in the Settlement Class, you will be bound by the Settlement as approved by the Court and you will give up any Released Plaintiffs’ Claims (defined in ¶ 36 of the Notice) that you have against Defendants and the other Defendants’ Releasees (defined in ¶ 37 of the Notice), so it is in your interest to submit a Claim Form.
|EXCLUDE YOURSELF FROM THE SETTLEMENT CLASS BY SUBMITTING A WRITTEN REQUEST FOR EXCLUSION SO THAT IT IS RECEIVED NO LATER THAN AUGUST 13, 2020.
||Deadline has passed
|OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION SO THAT IT IS RECEIVED NO LATER THAN AUGUST 13, 2020.
||Deadline has passed
|GO TO A HEARING ON SEPTEMBER 3, 2020 AT 1:00 P.M., AND FILE A NOTICE OF INTENTION TO APPEAR SO THAT IT IS RECEIVED NO LATER THAN AUGUST 13, 2020.
||Deadline has passed
||If you are a member of the Settlement Class and you do not submit a valid Claim Form, you will not be eligible to receive any payment from the Settlement Fund. You will, however, remain a member of the Settlement Class, which means that you give up your right to sue about the claims that are resolved by the Settlement and you will be bound by any judgments or orders entered by the Court in the Action.
How do I obtain more information?
More detailed information about the Action and the Settlement is contained in the Notice. If you have questions, you may contact the Claims Administrator by calling toll-free 1-888-670-1171; emailing info@ZimmerBiometSecuritiesLitigation.com; or mailing a letter to:
Shah et al. v.
Zimmer Biomet Holdings, Inc. et al.
c/o JND Legal Administration
P.O. Box 91367
Seattle, WA 98111
Inquiries should NOT be directed to the Court, the Clerk of the Court, Defendants, or their counsel.