8th Circ. Shuts Down Medtronic ERISA Action

Law360, New York (December 13, 2010, 8:21 PM EST) -- A federal appeals court on Monday upheld a lower court decision to dismiss a putative Employee Retirement Income Security Act class action against Medtronic Inc. and its board of directors claiming that participants in the company's savings and investment plan were kept in the dark about problems related to two products.

A three-judge panel of the U.S. Court of Appeals for the Eighth Circuit affirmed the trial court's decision, but on slightly different grounds.

The lower court held that Mark Brown, who worked for Medtronic from...
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