SOURCE: Izard Nobel LLP

November 22, 2011 17:18 ET

Izard Nobel LLP Announces Class Action Lawsuit Against Hospira, Inc.

WEST HARTFORD, CT--(Marketwire - Nov 22, 2011) - The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Northern District of Illinois on behalf of purchasers of the common stock of Hospira, Inc. ("Hospira" or the "Company") (NYSE: HSP) between March 24, 2009, and October 17, 2011, inclusive (the "Class Period").

The Complaint charges that Hospira and certain of its officers and directors violated federal securities laws. Specifically, defendants failed to disclose that: (i) Hospira suffered from extensive quality control issues, which undermined both the viability of and the supposed financial savings that would be generated by Project Fuel, a Company program designed to optimize Hospira's operations and increase shareholder value; (ii) Hospira was unable to remedy problems identified in FDA Warning Letters related to Hospira's infusion pumps, quality control deficiencies, and manufacturing weaknesses; (iii) Hospira's revenue guidance for 2010 and 2011 was misstated; and (iv) as a result, defendants' statements regarding Hospira's financial performance and expected earnings were false.

On October 18, 2011, Hospira announced disappointing preliminary third quarter financial results and slashed full-year guidance, pointing to a production disruption at its Rocky Mount, North Carolina plant, which accounted for approximately 25% of the Company's sales. Hospira attributed the production slowdown to the impact of an ongoing FDA investigation. On this news, Hospira stock, fell $7.85 to close at $29.51 per share.

If you are a member of the class, you may, no later than January 20, 2012, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit:, or contact Izard Nobel LLP toll-free: (800)797-5499, or by e-mail: For more information about class action cases in general, please visit our website:

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