8th Circ. Kills Suit Over Medtronic's Fidelis Disclosures

Law360, New York (September 16, 2010, 4:16 PM EDT) -- A federal appeals court on Thursday affirmed the dismissal of a securities class action that accused Medtronic Inc. of misleading investors as to the seriousness of defects in its Sprint Fidelis defibrillator leads.

The plaintiffs failed to plead with the requisite specificity facts that would show Medtronic made materially false or misleading statements, and the lower court did not err in refusing to allow an amended complaint, according to a three-judge panel of the U.S. Court of Appeals for the Eighth Circuit.

In a letter from...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.