An investor in Boston Scientific Corporation (Public, NYSE:BSX) filed a lawsuit in United States District Court for the District of Massachusetts on behalf of purchasers of Boston Scientific Corporation (NYSE: BSX) common stock during the period between April 20, 2009 and March 12, 2010, alleging violations of federal securities laws by Boston Scientific Corp. and others.
If you purchased Boston Scientific Corporation (NYSE: BSX) common stock during the period between April 20, 2009 and March 12, 2010, you have certain options and there are strict and short deadlines running. Deadline: June 07, 2010. Those BSX investors and current long term BSX shareholders should contact the Shareholders Foundation, Inc by email at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
Boston Scientific Corporation, located in Natick, Massachusetts, is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties, including cardiac rhythm management, electrophysiology, interventional cardiology, peripheral interventions, neurovascular, endoscopy, urology, women’s health and neuromodulation. Boston Scientific Corporation reported in 2007 Total Revenue of $8.357billion, in 2008 $8.05billion, and in 2009 $8.188billion.
According to the complaint the plaintiff alleges that BSX and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing between April 20, 2009 and March 12, 2010, materially false and misleading statements regarding its business and prospects.
Then on March 15, 2010, before the market opened, Boston Scientific Corp. announced that it was suspending sales of and was recalling all of its implantable cardiac defibrillator and implantable cardiac resynchronization therapy defibrillator devices because it had changed the manufacturing process for the devices without obtaining FDA approval. On this news, so the lawsuit, Boston Scientific Corp. (BSX) shares dropped 12.6%, to close at $6.80 per share, on volume of 243 million shares.
Shares of Boston Scientific Corporation (BSX) traded recently at $6.97 per share, down from its 52weekHigh of $11.77 per share, over $14 per share in 2008, over $18 per share in 2007, and over $26 in 2006.
Those who purchased Boston Scientific Corporation (NYSE: BSX) common stock during the period between April 20, 2009 and March 12, 2010, have certain options and there are strict and short deadlines running. Deadline: June 07, 2010. Those BSX investors and current long term BSX shareholders should contact the Shareholders Foundation, Inc by email at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
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