1st Circ. Kills Investor Suit Over Boston Scientific Sales

Law360, New York (July 12, 2012, 4:37 PM ET) -- The First Circuit on Thursday upheld the dismissal of a shareholder class action alleging Boston Scientific Corp. didn't disclose information about employees fired for unethical sales practices, saying the shareholders didn't sufficiently prove that alleged misstatements and omissions made by the company were misleading.

A three-judge panel agreed with a Massachusetts federal judge's finding that the shareholders' securities fraud claims didn't meet the standards required by the Securities Litigation Uniform Standards Act.

The plaintiffs, who originally launched the suit in 2010, had alleged that Boston Scientific...
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