NEW YORK, July 1, 2013 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC announces that a securities class action has been filed in the United States District Court for the District of Minnesota on behalf of those who purchased shares of Medtronic, Inc. ("Medtronic or the Company) (NYSE: MDT), during the period between December 8, 2010 and August 3, 2011, inclusive (the "Class Period").
The complaint alleges that defendants violated federal securities laws. On June 23, 2011, Medtronic issued a press release that stated that the U.S. Senate had requested information regarding its Infuse product. Then on June 28, 2011, an issue of The Spine Journal identified conflicts of interest concerning the researchers who had performed studies on Infuse. Then on August 3, 2011, the Company announced it would release Infuse data to the public and agreed to pay $2.5 million to Yale University so that researchers might conduct a review of previous studies. According to the complaint, the true facts, which defendants concealed from the investing public during the class period, included that the Company had engaged in a scheme with certain researchers to downplay the risks and side effects associated with Infuse and that once those risks were fully appreciated by surgeons, use of the product would drop significantly.
Plaintiff seeks to recover damages on behalf of all Medtronic, Inc. shareholders who purchased common stock during the Class Period described above.
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email info@bgandg.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. August 26, 2013 is the deadline for investors to seek a lead plaintiff appointment. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
info@bgandg.com
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