A California-based shareholder rights litigation firm is investigating Warsaw-based Zimmer Biomet Holdings Inc. (NYSE: ZBH). The Schall Law Firm says its investigation, being conducted on behalf of Zimmer Biomet investors, is related to claims of failing to disclose information pertinent to investors.
In a news release, the firm says the investigation also focuses on whether the the company issued false and/or misleading statements.
"Zimmer discovered that the primary legacy Biomet manufacturing facility in Warsaw, Indiana, suffered from ‘systemic’ quality system issues," the firm said in the release. "The Company failed to take swift and appropriate action to fix these issues completely. Zimmer proved incapable of fulfilling customer demand for its products and remediating the quality problems at Biomet."
The firm did not respond to Inside INdiana Business’ request for more details on the issues described in the news release.
In a statement to Inside INdiana Business, a spokesperson for Zimmer Biomet said, "As a policy, we don’t comment on litigation."