Judge Chucks Securities Action Against Guidant

Law360, New York (February 29, 2008, 12:00 AM EST) -- Guidant Corp. has won dismissal of a purported securities class action that alleged the medical device company glossed over problems with its defibrillators and their impact on Guidant's potential merger with Johnson & Johnson, leading investors to suffer billions of dollars in losses.

Judge Sarah Evans Barker of the U.S. District Court for the Southern District of Indiana granted Guidant’s motion to toss the case Wednesday, saying that the putative class complaint did not go far enough to show how the company allegedly misled investors....
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