Reimbursements top out around $50,000 per device. The average is about $33,000. The complaint has about 2,000 devices and seeks triple damages, so that's about 200 million. They'll probably settle for less.
Well there may be a slight concern about oh something called "reputation" and "integrity".... those things apparently don't exist at BSX...just refer to the last DECADE or so. Jeeeez. BSX... clueless and arrogant as ever. That's why bagholders have been so successful holding this POS.
Company commented that the DOJ suit will 'likely' not have a significant impact. Very questionable suit by the DOJ, questionable motives - nothing like piling on. BSC and the stockholders are being unfairly punished. DOJ should be going after the officers of Guidant directly responsible for not reporting the past field issues.
We always knew that BSX was gpoing to be a long haul...Pity they can't seem to get past this! If we hold 7.00 then we are good to go forward...otherwise, I think we have 6 months of depression at least!