Medtronic Strikes $43M Deal To End Stock-Drop Suit

Law360 (July 19, 2018, 7:31 PM EDT) -- Medtronic Inc. investors asked a Minnesota federal judge on Wednesday for initial approval of a $43 million settlement they reached with the medical device maker after five years of litigation involving claims it manipulated studies for a bone graft product to drive up share prices.

The all-cash deal represents a 21 percent recovery of the estimated maximum provable damages for class members who snagged certification earlier this year, court-appointed representatives said, and ends allegations Medtronic hid multimillion dollar payments made to researchers who helped conceal the risks associated with its Infuse bone graft technology.

"The settlement is the product of extensive,...

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