Medtronic Denies Reported $130M Settlement

Law360, New York (November 21, 2007, 12:00 AM EST) -- Medical device maker Medtronic Inc. denied a report on Wednesday that it has agreed to a $130 million settlement with about 2,600 plaintiffs in the multidistrict litigation over its recalled implantable defibrillators.

The Los Angeles Times reported on Wednesday that, according to three anonymous sources familiar with the case, Medtronic agreed to add about $55 million to a $75 million settlement reportedly reached with about 2,000 plaintiffs in July, allowing it to settle an additional 600 plaintiffs’ claims.

Medtronic spokesman Rob Clark said that the settlement...
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