Harwood Feffer LLP Announces That a Securities Class Action Lawsuit Has Been Filed Against Hospira Inc.

Published on Tuesday, 27 December 2011 15:10 Written by TradersHuddle Staff

NEW YORK-( Business Wire )-

Harwood Feffer LLP (www.hfesq.com) announces that a class action suit was filed in the United States District Court for the Northern District of Illinois against Hospira, Inc. (“Hospira” or the “Company”) (NYSE: HSP) on behalf of all purchasers of Hospira securities between March 24, 2009 and October 17, 2011 (the “Class Period”).

The complaint accuses the Company and certain officers and directors of violations of the Securities Exchange Act of 1934 in connection with the Company's failure to disclose both that Hospira suffered from extensive quality control issues which undermined the viability of Project Fuel, a Company program designed to optimize the Company's operations and increase shareholder value, and that Hospira was unable to remedy problems identified in FDA Warning Letters related to the Company's infusion pumps, quality control deficiencies, and manufacturing weaknesses.

On October 18, 2011, the Company announced disappointing preliminary third quarter financial results and slashed full-year guidance. The Company blamed the disappointing results on a production disruption caused by the ongoing FDA investigation at a North Carolina manufacturing plant which accounted for approximately 25% of the Company's sales. In response, the value of Hospira shares declined significantly.

If you purchased Hospira common stock during the Class Period, you have until February 12, 2012 to ask the Court to appoint you lead plaintiff for the class. Moreover, current holders of Hospira common stock purchased at any time may also have a claim. If you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Robert I. Harwood, Esq.

Benjamin Sachs-Michaels

Harwood Feffer LLP

488 Madison Avenue

New York, New York 10022

Phone Numbers: (877) 935-7400

(212)935-7400

Email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it.

Website: http://www.hfesq.com

Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.

Attorney Advertising. © 2011 Harwood Feffer LLP. The law firm responsible for this advertisement is Harwood Feffer LLP (www.hfesq.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Harwood Feffer LLPRobert I. Harwood, Esq.Benjamin This e-mail address is being protected from spambots. You need JavaScript enabled to view it.