Investors Sue Medtronic Over Defibrillation Device

Law360, New York (November 12, 2007, 12:00 AM EST) -- A purported securities class action has been launched against Medtronic Inc. for allegedly covering up defects in the defibrillation leads used in most of its defibrillators, an oversight that may have caused five deaths and thousands of injuries among patients.

The suit was filed in the U.S. District Court for the District of Minnesota on Thursday, alleging that Medtronic and certain officers and directors concealed the performance of its faulty Sprint Fidelis defibrillation leads until the company disclosed in mid-October that it would voluntarily stop distributing...
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