NEW YORK, Oct. 7, 2022 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Medtronic plc (NYSE: MDT).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/medtronic-plc-loss-submission-form/?id=32452&from=4
This lawsuit is on behalf of persons and entities who purchased or otherwise acquired Medtronic common stock between June 8, 2019, and May 25, 2022, inclusive.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until November 7, 2022 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Medtronic plc issued materially false and/or misleading statements and/or failed to disclose that: (1) Medtronic's product quality control systems were inadequate; (2) Medtronic had failed to comply with numerous regulations regarding risk assessment, corrective and preventive action, complaint handling, device recalls, and reporting of adverse events; (3) these failures increased the risk of regulatory investigation and action; (4) as a result of the Company's misconduct, the U.S. Food and Drug Administration would delay the approval of additional Medtronic MiniMed devices, including the MiniMed 780G; (5) these delays in product approvals, as well as the Company's need to improve its quality control systems, would negatively affect the Company's financial performance and cause Medtronic to fall further behind its competitors; and (6) as a result of the foregoing, defendants' statements about the Company's business, operations, and prospects lacked a reasonable basis.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
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9th Floor
New York, New York 10036
T: (212) 867-4490
F: (212) 537-5887
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SOURCE Jakubowitz Law
