Securities Class Actions
Off-Label Marketing: Medtronic Inc.
No longer accepting claims for this case
*We are no longer accepting new claims in this litigation.
Through our work in various areas of litigation, we track a wide range of industries for potentially fraudulent business practices, including medical drug and device marketing.
Minneapolis Firefighters' Relief Association et al. v. Medtronic Inc. et al.
In May 2012, the U.S. Department of Justice announced the end of a four-year investigation into Medtronic for allegedly marketing its spinal surgery product Infuse® off-label, leading to severe patient complications. Federal prosecutors closed the case without filing charges or reaching a settlement, but the announcement of the investigation resulted in a significant drop in stock prices.
Together with our client and co-counsel, we continued to fight against these alleged unfair and unethical practices, and in Nov. 2012, earned the court’s final approval of an $85 million settlement for investors who purchased common stock in Medtronic Inc. between Nov. 2006 and Nov. 2008.
The case is Minneapolis Firefighters' Relief Association et al. v. Medtronic Inc. et al., No. 0:08-cv-06324 (D. Minn). Motley Rice served as co-lead counsel in this litigation.
*Prior results do not guarantee a similar outcome.