Levi & Korsinsky announces that a class action lawsuit has been
commenced in the USDC for the District of Minnesota on behalf of
investors who purchased Medtronic, Inc. (“Medtronic” or the “Company”)
(NYSE: MDT) stock between December 8, 2010 and August 3, 2011.
For more information, click here: http://zlk.9nl.com/medtronic-mdt/.
The complaint alleges that defendants violated federal securities laws
by issuing materially false and misleading statements concerning the use
of the Company’s INFUSE Bone Graft (“Infuse”) product for the reduction
of complications and pain associated with degenerative disc disease. On
June 23, 2011, Medtronic issued a press release acknowledging that the
U.S. Senate had requested information regarding Infuse. Then on June 28,
2011, an issue of The Spine Journal identified conflicts of
interest concerning the researchers who had performed studies on Infuse.
On August 3, 2011, Medtronic 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.
If you suffered a loss in Medtronic you have until August 26, 2013 to
request that the Court appoint you as lead plaintiff. Your ability to
share in any recovery doesn’t require that you serve as a lead
plaintiff. To obtain additional information, contact Joseph E. Levi,
Esq. either via email at jlevi@zlk.com
or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/medtronic-mdt/.
Levi & Korsinsky is a national firm with offices in New York, New
Jersey, and Washington D.C. The firm has extensive expertise in
prosecuting securities litigation involving financial fraud,
representing investors throughout the nation in securities and
shareholder lawsuits. Attorney advertising. Prior results do not
guarantee similar outcomes.
Copyright Business Wire 2013