Medtronic Lawsuit

Nov. 20 (Bloomberg) — Medtronic Inc., the world’s biggest maker of electronic heart devices, rose the most in a year on the New York Stock Exchange after second-quarter profit fell less than analysts expected.
Medtronic rose $3.17, or 7 percent, to $48.42 at 4:00 p.m. in composite trading. The Minneapolis-based company jumped 9.2 percent earlier today, […]

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Minneapolis, MN: has announced that the massive Sprint Fidelis recall issued in October had an estimated negative sales impact of $130 million and cost the company $31 million in inventory write-offs and other direct costs.
Medtronic announced the recall after it received reports of at least five deaths related to fractured Sprint Fidelis leads. Instead of […]

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As reported by Prime Newswire in Hartford, Connecticut on November 9th, a class action lawsuit was filed in Minnesota on behalf of all persons who purchased the common stock of Medtronic, Inc. between June 25, 2007 and October 15, 2007, inclusive.
Medtronic faces allegations of violating federal securities laws by issuing “false and misleading statements concerning […]

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In an article on the WallStreet Journal’s website, Henry Waxman, a California Democrat who heads the House Committee on Oversight and Government Reform, is asking questions concerning the FDA’s approval process. He has apparently requested all of the data that was collected during the approval process including the information on effectiveness.
In addition to questioning the […]

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Investor Stanley Kurzweil filed a Medtronic lawsuit on November 8, 2007 in U.S. District Court in Minneapolis. Kurzweil claims that Medtronic and its top executives withheld information about defects on a critical wire lead used with certain heart defibrillators. The claim seeks damages from Medtronic Inc., Chairman Arthur Collins, CEO William Hawkins III and CFO […]

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