Medtronic Agrees To Settle Infuse Shareholder Class For $85M, Denies Liability

MINNEAPOLIS - Medtronic Inc. on March 30 said in a press release that it has agreed in principle to settle a stockholder class action involving its Infuse Bone Graft product for $85 million (Minneapolis Firefighters' Relief Association, et al. v. Medtronic, Inc., No. 08-6324, D. Minn.).

Pfizer Shareholder Class OK'd By MDL Judge For Disclosures About Celebrex, Bextra

NEW YORK - A New York federal judge overseeing the Pfizer Inc. securities multidistrict litigation on March 29 certified a class of shareholders who allege that their stock value was affected by misstatements and omissions concerning the safety of the pain drugs Celebrex and Bextra (In Re: Pfizer Inc...

Genzyme Shareholder Class Dismissed For Lack Of Scienter By Mass. Federal Judge

BOSTON - A Massachusetts federal judge on March 30 dismissed a purported class action by shareholders of Genzyme Corp., finding that the plaintiffs failed to show scienter that the company and its executives failed to disclose problems at manufacturing plants and with one of its biologic drugs and inflated...

Judge Grants Final Approval Of $688M Settlement In 2 Securities Class Actions

NEWARK, N.J. - A federal judge in New Jersey on Oct. 1 granted final approval of a $688 million settlement in two securities class action lawsuits alleging that Merck and Co. Inc. and others failed to disclose adverse results of a clinical trial for two cholesterol drugs Merck was developing (In Re:...

Medical Device Manufacturer To Pay $30M For Role In Securities Fraud Scheme

WASHINGTON, D.C. - Medical device manufacturer ArthroCare Corp. will pay a $30 million monetary penalty to settle claims that certain of its senior executives engaged in a securities fraud scheme that bilked the company's shareholders out of more than $400 million, according to a press release issued...