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St. Jude Agrees To Pay $39m To Settle Shareholder Suit

 
• By Elizabeth Orr

The settlement, which does not include an admission of fault, puts an end to a long-running class action claim filed by investors who say they were misled by St. Jude’s failure to announce FDA safety concerns around the company’s Durata heart leads.

St. Jude Medical Inc. has agreed to pay $39.25m to settle class-action suits filed by shareholders who say the company artificially raised its stock prices by concealing heart-lead safety concerns.

The settlement was announced in June 7 filings in Minnesota federal court, and still requires a judge’s final approval. Once finalized, the settlement will put to rest claims...

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