Hospira, Inc. Litigation Settlement
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Welcome to the Hospira Litigation Settlement Website

This website has been established to provide general information related to the Hospira Inc. ("Hospira") Litigation and the resulting Settlement Fund. The capitalized terms used on this website, and not defined herein, shall have the same meanings ascribed to them in the Settlement Agreement dated March 27, 2014.

This is a federal securities fraud class action that is pending before the Honorable Amy J. St. Eve in the United States District Court for the Northern District of Illinois.  The entities representing the Class are the Sheet Metal Workers' National Pension Fund, KBC Asset Management NV, the Heavy & General Laborers' Locals 472 & 172 Pension & Annuity Funds, and the Roofers Local No. 149 Pension Fund (the "Lead Plaintiffs") and the company and individuals they sued and who has now settled, Hospira, F. Michael Ball, Thomas E. Werner, and Christopher B. Begley, are called the Defendants.

The Complaint in this Action alleges, among other things, that during the Class Period, February 4, 2010 through and including October 17, 2011, the Defendants concealed significant deteriorating conditions, manufacturing and quality control deficiencies at its largest manufacturing facility located in Rocky Mount, North Carolina, and the costly effects of these deficiencies on production capacity. The Complaint also alleges that Defendants misrepresented the effectiveness of an "optimization" initiative which reduced quality control efforts and delayed and increased the cost of necessary remediation at Rocky Mount. The Complaint asserts that these allegedly false and misleading statements artificially inflated the price of Hospira common shares.  The Complaint further alleges that Class Members purchased Hospira common shares during the Class Period at prices artificially inflated as a result of the Defendants' dissemination of materially false and misleading statements,

Defendants deny each and all of the claims and contentions alleged by Lead Plaintiffs in the litigation. Defendants contend that they did not make any false or misleading statement, that they disclosed all information required to be disclosed by the federal securities laws, and that any omitted or misstated information was not material. Defendants also contend that any losses suffered by members of the Class were not caused by any false or misleading statements by Defendants and/or were caused by intervening events.

The Court directed that everyone who fits this description is a Class Member: all Persons who purchased or otherwise acquired Hospira publicly traded common stock during the period from February 4, 2010 through and including October 17, 2011, who were allegedly damaged thereby.  Excepted from the Class are those persons and entities that are excluded.  Excluded from the Class are Defendants, the officers and directors of Hospira during the Class Period, members of their immediate families, and their legal representatives, heirs, successors or assigns, and any entity in which a Defendant has or had a controlling interest. Also excluded from the Class are those Persons who timely and validly exclude themselves by filing a request for exclusion in accordance with the requirements set forth in the Notice of Pendency of Class Action and Proposed Settlement, Motion for Attorneys' Fees, and Settlement Fairness Hearing (the "Notice").

A Settlement Fund consisting of $60,000,000.00 in cash, plus any accrued interest, has been established.   The Settlement Fund, less all taxes, approved costs, fees, and expenses shall be distributed to Class Members who submit timely and valid Proof of Claim and Release ("Proof of Claim") forms to the Claims Administrator.

Class Members are represented by Robbins Geller Rudman & Dowd LLP and Motley Rice LLC, Lead Counsel appointed by the Court for this litigation.

Although the information in this website is intended to assist you, it is a summary of the litigation and resulting Settlement and does not replace the information contained in the Notice or the Settlement Agreement, both of which can be found on the Case Documents tab and downloaded from this website. We recommend that you read the Notice and other relevant case documents carefully.

Your Legal Rights and Options in this Settlement 

Submit a Claim Form Exclude Yourself Object Go to a Hearing Do Nothing

If you are a Class Member, and do not exclude yourself from the Class, the only way to get a payment is to submit a Proof of Claim form.

 

You will not receive a payment.  
This is the only option that allows you to ever be part of any other lawsuit
against the Defendants about the legal claims in this case.
 
If you are a Class Member, and do not exclude yourself from the Class, you may write to the Court about why you do not like the Settlement. You may ask to speak in Court about the fairness of the Settlement. If you do nothing, you will receive no payment from the Settlement Fund. If you are a Class Member, you are bound by the releases included in the Settlement and you give up your rights. 

 

Important Deadlines

Request Exclusion    File Objection Request to Speak at the Settlement Hearing Submit a Proof of Claim
July 15, 2014

 July 15, 2014

 July 15, 2014 July 21, 2014