Seeking Alpha

Medtronic will not pursue Infuse claims

  • Based on the findings of an independent committee that investigated shareholder claims that Medtronic (MDT -1.2%) underreported the side effects of its Infuse bone growth stimulation product, the company decides not to pursue claims against current and former executives, directors, employees and physician consultants. The committee concluded that pursuing legal action would not be in the company's best interests.
  • The committee was formed two years ago and included a retired Minnesota state judge and corporate law professor.
  • MDT will seek the dismissal of two consolidated shareholder lawsuits.
  • Its problems aren't over, though. Last week, Humana filed suit against the company accusing it of falsely representing the product.
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