Boston Scientific is told to face stent recalls suit
Boston Scientific Corp., the largest maker of heart stents, must face investors' class-action lawsuits over the company's handling of 2004 recalls of drug-coated Taxus devices used to prop open patients' arteries, a judge ruled.
US District Judge Douglas Woodlock in Boston concluded that a Mississippi pension fund and other Boston Scientific shareholders could band together to bring securities fraud claims that company officials misled investors about the problems with the Taxus stents.
The ruling comes as Natick-based Boston Scientific has slowed its acquisitions as it focuses on developing its own stents, defibrillators, and other products. Boston Scientific has snapped up 32 companies over the last decade, including rival Guidant Corp.