Guidant To Pay $296M Penalty In Defibrillator Case

Law360, New York (January 12, 2011, 4:18 PM EST) -- The U.S. Department of Justice has hit Boston Scientific Corp. unit Guidant LLC with $296 million in criminal fines and forfeitures for withholding information from the U.S. Food and Drug Administration about a life-threatening defect in its implantable defibrillators.

Under the terms of Guidant's plea agreement with the U.S. Department of Justice, the company will pay a $254 million fine, forfeit $42 million and be on probation for three years, Judge Donovan W. Frank of the U.S. District Court for the District of Minnesota ruled Wednesday....
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.