1st Circ. Tosses Boston Scientific Securities Fraud Action

Law360, New York (August 5, 2011, 9:01 PM EDT) -- The First Circuit on Thursday affirmed a lower court's ruling throwing out a consolidated securities fraud class action against Boston Scientific Corp. for allegedly having failed to notify shareholders of major issues with its Taxus stent.

In a one-page order, the First Circuit affirmed the District of Massachusetts' judgment for Boston Scientific and awarded costs to the defendants. The First Circuit's opinion, filed under seal, will be made public in seven days, unless the parties object, according to the order.

U.S. District Judge Douglas Woodlock dismissed...
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