Medtronic Will Pay Investors $85M To End Off-Label Suit

Law360, Wilmington (April 2, 2012, 8:11 PM EDT) -- Medtronic Inc. has agreed to pay shareholders $85 million to settle a class action in Minnesota federal court alleging the medical device maker lied to investors about off-label marketing of its Infuse spinal graft system, the company said Friday.

The Minneapolis-based company said in a statement that it had reached an agreement in principle to resolve the action, subject to final documentation and court approval. Despite the settlement, Medtronic continues to deny any wrongdoing in the matter, according to the statement.

Investors first brought suit against...
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