Medtronic to settle suit for $85 million (Star Tribune)
Medtronic said Friday that it has agreed to settle a federal securities class action lawsuit that alleged the company misled investors regarding its Infuse bone-growth device.
The settlement is for $85 million, and Medtronic denied in a statement "that it made any misrepresentations or omissions or that it otherwise engaged in any wrongdoing." Company officials were not made available for comment.
The class action was originally filed in federal court in December 2008 against the company and several of its officers. The suit alleged that,...
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