7th Circuit Rejects Investors’ Claims that Zimmer Covered Up Implant Design Flaws

CHICAGO — The 7th Circuit Court of Appeals has affirmed dismissal of an investor suit against Zimmer Holdings Inc., saying allegations that the company misled investors about the nature of problems with the Durom Cup hip implant failed to meet the pleading requirements of the Private Securities Litigation Reform Act of 1995. Plumbers and Pipefitters Local Union 719 Pension Fund, et al. v. Zimmer Holdings Inc., et al., No. 11-1471 (7th Cir.).

The Circuit Court panel’s May 21 opinion affirmed an order by the U.S. District Court for the Southern District of Indiana dismissing an action filed by two union …