Boston Scientific Says Dead-End SEC Probe Sinks Stock Suit

By Brian Dowling (January 4, 2022, 4:50 PM EST) -- The U.S. Securities and Exchange Commission is not bringing securities claims against Boston Scientific for halting the production of its Lotus Edge heart device, the company said Monday as it sought to undercut a related suit brought by investors in New York and Massachusetts.

Boston Scientific told U.S. District Judge Douglas P. Woodlock that the SEC's letter dated Monday makes it much harder to accept investors' claim that company executives knew the Lotus Edge product was seriously flawed but still touted its illusory growth in sales accounts. Later problems with the device led to a global recall that caused Boston Scientific's...

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