August 9, 2011
Boston Scientific Suit Dismissed
By Brandon Butler
The U.S. Court of Appeals in Boston affirmed the dismissal of a securities fraud case involving Natick-based medical device manufacturer Boston Scientific.
The suit, filed by the Mississippi Public Employees' Retirement System, related to the recall of a stent system in 2004. The U.S. District Court in Massachusetts had already dismissed the case.
The company has made a number of moves in the past few weeks to strategically position itself for the future, including the announcement of expansion in China and a plan to cut back its international workforce. Analysts have largely praised the moves.
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