St. Jude Stock Flatlined Amid Recalls, Investors Say

Law360, New York (June 15, 2012, 1:35 PM EDT) -- St. Jude Medical Inc. shareholders launched a putative class action in Minnesota federal court Thursday claiming the medical device maker concealed problems with its now-recalled defibrillator wires, causing the company's stock price to plummet.

St. Jude recalled and stopped selling its Riata leads, or wires that connect a defibrillator to the heart, in December 2010 after they were observed to wear through the silicone casing meant to contain them and protrude into the body, according to the complaint by investor Robert L. Satow.

The company and...
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