A class action lawsuit has been filed in the US District Court for District of Massachusetts against Boston Scientific and certain of its officers, alleging, among other things, that between April 20, 2009 and March 12, 2010, Boston Scientific made false and misleading statements regarding the sales, demand, market share and growth of the company’s cardiac rhythm management products (CRMs).
The complaint further alleged that on March 15, 2010, Boston Scientific suspended the sale of all of its of implantable cardioverter defibrillators (ICDs) and its cardiac resynchronization therapy defibrillators (CRT-Ds) due to the company’s failure to notify FDA regulators of a change in how it manufactured the devices.
Holzer Holzer & Fistel currently is investigating, among other things, whether Boston Scientific’s board of directors complied with their fiduciary duties in light of the allegations made in the class action complaint filed against the company.
Holzer Holzer & Fistel is an Atlanta, Georgia-based law firm that dedicates its practice to representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation.
Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a range of interventional medical specialties, including interventional cardiology, peripheral interventions, neuromodulation, neurovascular intervention, electrophysiology, cardiac surgery, vascular surgery, endoscopy, oncology, urology and gynecology.