Sign In
Events
Newsletters
Search

Close

Close Search

Cancel

SEARCH
MY LAW.COMNEW

In Re: Boston Scientific Corporation Securities Litigation.

X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Before Torruella, Boudin and Thompson, Circuit Judges.

This case charging securities fraud was brought in the district court as a class action on behalf of a proposed class of shareholders of Boston Scientific Corporation (“Boston Scientific”). Boston Scientific is a large publicly traded company that makes and sells medical devices; it produces numerous products across a range of medical fields, operates in multiple countries and employs over 25,000 people. The charges made, now common when a company’s stock price declines suddenly, rest on the following allegations and background facts.

A substantial portion of Boston Scientific’s sales in late 2008 and early 2009–around 30 percent–were of cardiac rhythm management (“CRM”) devices handled by a group within the company devoted to such products. CRM devices are implantable devices that use electric pulses to treat a patient’s cardiac condition; they include pacemakers and implantable cardioverter defibrillators (“ICDs”). The devices are typically marketed and sold directly to physicians by Boston Scientific’s CRM sales staff, which in the period with which the suit is concerned consisted of about 1,100 employees.

Trending Stories

 
Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

LEARN MORE

More From ALM

Premium Subscription
With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now
Team Accounts
Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now
Bundle Subscriptions
Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now
Go to CLE Center
General Counsel Conference Midwest: SuperConference 2025
April 08, 2025 - April 09, 2025
Chicago, IL

Join General Counsel and Senior Legal Leaders at the Premier Forum Designed For and by General Counsel from Fortune 1000 Companies


Learn More
ThinkAdvisor LUMINARIES Awards 2024
December 11, 2024
Las Vegas, NV

This event shines a spotlight on how individuals and firms are changing the investment advisory industry where it matters most.


Learn More
Complex Claims & Litigation Forum 2025
February 24, 2025 - February 26, 2025
Las Vegas, NV

This conference aims to help insurers and litigators better manage complex claims and litigation.


Learn More
Go to Events Go to Webcasts
Associate Litigator

Borteck & Czapek, P.C., based in Florham Park, is a boutique estates and trusts law firm specializing in estate planning and administrat...


Apply Now ›
Gwinnett County: State Court Staff Attorney

Gwinnett County State Court is seeking an attorney to assist the Judge by conducting a variety of legal research, analysis, and document pre...


Apply Now ›
Corporate Counsel

CORE RESPONSIBILITIES AND TASKS:(1) Tasks and responsibilities include:Reviewing and negotiating commercial agreements for internal business...


Apply Now ›
Go to Lawjobs