Medtronic Hit With Securities Suit Over InFuse Sales

Law360, New York (December 11, 2008, 12:00 AM EST) -- The Minneapolis Firefighters' Relief Association has launched the first securities class action against Medtronic Inc., accusing the medical company of misleading investors about revenue generated from sales of its InFuse spinal graft product, which has been linked to life-threatening complications in dozens of patients.

In a complaint lodged Wednesday in the U.S. District Court for the District of Minnesota, the pension fund claims that Medtronic and its senior executives violated federal securities laws by issuing false and misleading statements that failed to disclose the extent to...
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