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Medtronic To Pay $55M In HeartWare Investor Suit

 
• By Elizabeth Orr

Device-giant Medtronic has agreed to pay $54.5m to settle a class-action suit filed by investors in HeartWare, which Medtronic bought in 2016. The plaintiffs say HeartWare misled investors about the safety of a miniaturized heart pump under development.

Medtronic PLC plans to pay $54.5m to settle a class-action suit brought by investors into cardiac device company HeartWare International Inc., which Medtronic had acquired in 2016. The plaintiffs say HeartWare mislead them about the safety and regulatory future of a miniaturized ventricular-assist device (MVAD).

The company announced the proposed settlement in a Nov. 16 filing in New York state federal court. Medtronic will not admit any wrongdoing as part of the settlement, which will...

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