Boston Sci Misled Investors After Guidant Deal: Suit

Law360, New York (April 13, 2010, 9:39 AM EDT) -- Boston Scientific Corp. has been hit with a securities class action claiming that the company issued misleading information regarding its sales performance as the company dealt with product recalls and the repercussions of an alleged kickback scheme.

The misinformation, which followed the company's acquisition of Guidant Corp., cost investors $2.7 billion, according to a complaint the City of Roseville Employees Retirement System filed Friday in the U.S. District Court for the District of Massachusetts.

The shareholders allege that Boston Scientific failed to disclose the extent to...
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