Medtronic Execs Shake Off Shareholder's Claims

Law360, New York (May 13, 2009, 12:00 AM EDT) -- A federal judge has thrown out a shareholder derivative lawsuit brought in the wake of Medtronic Inc.'s Sprint Fidelis defibrillator leads recall, saying the plaintiff never made a presuit demand and could not show demand was excused.

In granting the Medtronic defendants' motion to dismiss, Judge Richard H. Kyle of the U.S. District Court for the District of Minnesota found that the company's board of directors could have appropriately considered a demand.

According to Judge Kyle, the plaintiff's primary argument for demand futility was that the...
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