St. Jude Ends Investor Suit Over Cardiac Devices For $39M

Law360, Los Angeles (July 7, 2016, 8:24 PM EDT) -- St. Jude Medical Inc. agreed to pay more than $39 million to settle a long-running securities class action over whether the company and its executives downplayed dangers with lead wires on its heart rhythm management devices, according to papers filed in Minnesota Thursday.

St. Jude will pay the sum to end litigation that kicked off in December 2012 with a 178-page complaint alleging the company lied to investors about the quality of new leads on cardiac rhythm management devices branded the Riata, Durata, QuickSite and QuickFlex,...
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Case Information

Case Title

Forsta AP-Fonden et al v. St. Jude Medical, Inc. et al


Case Number

0:12-cv-03070

Court

Minnesota

Nature of Suit

Securities/Commodities

Judge

Joan N. Ericksen

Date Filed

December 7, 2012

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