Class Action Against Medical Device Maker Tossed

Law360, New York (February 5, 2007, 12:00 AM EST) -- A federal court in Minnesota has dismissed a class action suit brought against a medical device maker by shareholders that claimed the company covered up news that its marquee product, a catheter for removing blood clots, hadn’t performed as well as expected in a clinical trial.

U.S. District Judge James M. Rosenbaum on Thursday granted Minneapolis, Minn.-based Possis Medical Inc.’s motion to dismiss the amended complaint with prejudice on the grounds that the plaintiffs had not met the pleading standards laid out in the Private Securities...
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