Medtronic Investors Win Cert. In Revived Stock-Drop Suit

Law360, New York (January 30, 2018, 10:09 PM EST) -- A Minnesota federal judge Tuesday granted a class of Medtronic Inc. investors' bid for certification in their renewed suit alleging the company downplayed problems with its bone graft products and paid hundreds of millions of dollars to authors of studies with the end goal of driving up its stock price.

The class, whose claims were tossed in September 2015 but revived by the Eighth Circuit in December 2016, will include more than 1,000 major institutions that owned Medtronic stock between Sept. 8, 2010 and June 28, 2011.

U.S. District Judge John R. Tunheim certified the class, which claims that Medtronic engaged...

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