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...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!