Medtronic Investors Sue Over $3B Inflated Stock Buyback

Law360, New York (March 12, 2012, 10:26 PM EDT) -- Medtronic Inc. investors on Monday accused the medical device maker’s directors of making misleading statements about their marketing of the company’s bone growth-stimulating device for off-label uses and causing the company to repurchase more than $2.8 billion of its own stock at inflated prices.

In a shareholder derivative suit filed in Minnesota federal court, the investors claim the directors did not disclose to them that 85 percent of sales for the surgically implanted Infuse Bone Graft device came from off-label uses of the product not approved...
To view the full article, register now.




Case Information

Case Title

Kokocinski v. Collins et al

Case Number




Nature of Suit

Stockholders Suits


John R. Tunheim

Date Filed

March 12, 2012

Law Firms


Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.