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 Proposed 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.
PLEASE NOTE: Due to the COVID-19 global pandemic, the date, time, and location of the Settlement Hearing and other relevant dates associated with this Settlement may change. Please check this website regularly for any updated information.
Summary of the Action and Settlement
The Notice relates to a proposed Settlement of claims in a pending 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 proposed Settlement, if approved by the Court, 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 a proposed settlement of the Action for $50,000,000 in cash that, if approved, 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.
||If you exclude yourself from the Settlement Class, you will not be eligible to receive any payment from the Settlement Fund. This is the only option that allows you ever to be part of any other lawsuit against any of the Defendants or the other Defendants’ Releasees concerning the Released Plaintiffs’ Claims.
|OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION SO THAT IT IS RECEIVED NO LATER THAN AUGUST 13, 2020.
||If you do not like the proposed Settlement, the proposed Plan of Allocation, or the request for attorneys’ fees and reimbursement of Litigation Expenses, you may write to the Court and explain why you do not like them. You cannot object to the Settlement, the Plan of Allocation or the fee and expense request unless you are a Settlement Class Member and do not exclude yourself from the Settlement Class.
|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.
||Filing a written objection and notice of intention to appear by August 13, 2020 allows you to speak in Court, at the discretion of the Court, about the fairness of the proposed Settlement, the Plan of Allocation, and/or the request for attorneys’ fees and reimbursement of Litigation Expenses. If you submit a written objection, you may (but you do not have to) attend the hearing and, at the discretion of the Court, speak to the Court about your objection.
||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.