Boston Scientific To Pay $296M To Settle Probe

Law360, New York (November 6, 2009, 4:11 PM EST) -- Boston Scientific Corp. subsidiary Guidant Corp. will plead guilty to two misdemeanor charges and pay $296 million to end a U.S. Department of Justice probe into cardiac defibrillator product advisories it issued.

Boston Scientific noted Friday that the conduct took place in 2005, a year before it acquired Guidant.

The company had previously disclosed the investigation by the U.S. Attorney's Office in Minneapolis into alleged violations of the Federal Food, Drug and Cosmetic Act. The DOJ declined comment Friday.

"We are pleased this investigation has been...
To view the full article, register now.