This company needs to pay back the money they got from shareholders while they where stealing other companies ideas, while the insiders where selling stock, and leading us to believe they could actually come up with their own products. BSX will probably have to pay residual payments and punitive damages untill they file for BK. They better hope theirs no mistakes or more lawsuits coming, not much cash left after this atrocity. IMO.
This whole company is one big pump and dump. Another day another defective product recall. How long until the FDA imposes corrective action?
those aren't the only synergies between these companies. On Thursday, Boston Scientific recalled some 40,000 implantable cutting balloons meant to treat blocked coronary arteries. The recall was Boston Scientific's second in a week, following last Friday's recall of about 18,000 devices that filter and dissolve blood clots from entering the lungs.
The timing is striking because Guidant's problems with J&J started when safety concerns pushed it to recall hundreds of thousands of defibrillators and pacemakers. The Food and Drug Administration and other agencies are probing Guidant's communication actions in product malfunctions and patient deaths, after The New York Times reported that Guidant failed to immediately tell doctors in some cases.
Of course, Boston Scientific's recalls are nearly as big as Guidant's, and many have questioned Boston Scientific's disclosure. Regardless of the reason for its recent weakness, Boston Scientific looks like a short.
Its down because some small time inpatient short covered. Unfortunate for him because this stock has a long way to fall. BSX insiders dump as much shares as they can at the lows because they know they will not be allowed to continue the killing and lies no matter how much they spend to come out with false propaganda and BS. People are dying as a direct result of their lax safety policies and poor quality control cuts because they needed to save some money to pay the executives their fat bonuses, to spin the truth, and to hire bean counters to hide their enormous debt.
Scott+Scott, LLC: A Leader in Pharmaceutical Corp Securities Fraud Litigation Filed Initial Case Against Boston Scientific on September 21, 2005; $400 Million in Insider Trading Alleged
Sunday November 20, 10:49 am ET
Lead Plaintiff to be Filed Monday-Contact Firm for Information
COLCHESTER, Conn., Nov. 20 /PRNewswire/ -- Scott+Scott, LLC (http://www.scott-scott.com), the first to file a securities class action against Boston Scientific Corp. (NYSE: BSX - News; "Boston Scientific") Scott+Scott represents both individual and institutional investors of Boston Scientific in the United States District Court for the District of Massachusetts (Case No. 1:05-cv-11934-JLT). Purchasers of Boston Scientific securities should contact attorney Neil Rothstein at 619/251-0887 with any inquiries. Presently, the class is defined as those who purchased the securities between March 31, 2003 and August 23, 2005, inclusive (the "Class Period"), but class periods can change as information is revealed.
If you purchased Boston Scientific securities contact Scott+Scott partner Neil Rothstein (email@example.com , 800/332-2259, ext. 22 or cell 619/251-0887) today or early Monday if you wish to discuss this action or have questions concerning this notice. Scott+Scott will provide class members with case materials, answer all questions regarding participation and rights, and assist with other services the firm provides. There is no cost or fee to you. Institutional Investors may also contact the firm at
InstitutionalInvestors@scott-scott.com . During the class period, the stock traded over $45 per share and now trades at $26.10 per share.
NOTE: Also included are all those who acquired Boston Scientific through its acquisitions of Rubicon Medical, CorAutus, Precision Vascular, Advanced Bionics, CryoVascular Systems and TriVascular.
The complaint, filed as the first complaint at client request on September 21, 2005, alleges that Boston Scientific and certain individual defendants violated the federal securities laws (provisions of the Securities Exchange Act of 1934) by making false and misleading assurances of the Company's ability to satisfy FDA regulations governing its medical device product quality. This falsity, the complaint alleges, caused its stock to trade at artificially inflated levels. The complaint also alleges over $400 million was sold in insider trading. For more information about the allegations, see Scott+Scott's initial press release at: http://biz.yahoo.com/prnews/050922/neth040.html?.v=10 .
New Revelations: In late September and early October, it was reported that a hospital in Michigan temporarily halted the use of the Boston Scientific stent when it allegedly caused injury to a few patients. On November 14, 2005, the U.S. Food and Drug Administration stated it was investigating the matter.
Take your pick theres 6 and a new one every day
Stull, Stull & Brody Announces Class Action Against Boston Scientific Corporation
Tuesday November 15, 5:57 pm ET
NEW YORK, NY--(MARKET WIRE)--Nov 15, 2005 -- Notice is hereby given that a class action has been commenced in the United States District Court for the District of Massachusetts on behalf of all persons who purchased the securities of Boston Scientific Corporation (NYSE:BSX - News) (the "Boston Scientific" or the "Company") during the period between March 31, 2003 and August 23, 2005 (the "Class Period"). Also included are all those who acquired Boston Scientific through its acquisitions of Rubicon Medical, CorAutus, Precision Vascular, Advanced Bionics, CryoVascular Systems and TriVascular.
Stull, Stull & Brody has substantial experience representing employees who suffered losses from purchases of their employer's stock in their 401(k) plans. If you bought Boston Scientific's stock through your Boston Scientific retirement account and have information or would like to learn more about these claims, please contact us.
The complaint alleges that Boston Scientific, a company that engages in the development and marketing of cardiovascular and endosurgery medical device products, violated federal securities laws by issuing false and misleading statements. Specifically, the complaint alleges that Boston Scientific provided highly explicit false and misleading assurances of the Company's ability to satisfy FDA regulations governing its medical device product quality, as well as affirmative representations as to the Company's knowledge and expertise regarding design, development, marketing approval and sales of its medical devices.
On August 23, 2005, based on the cumulative impact of three separate FDA Warning Letters, investors learned of defendants' broad-based concealment of its broken quality program and the risks the Company faced. As a result, Boston Scientific's stock price fell 4.5% to $25.92. During the Class Period, shares of Boston Scientific traded as high as $45.81 on April 5, 2004. While the Company's stock was trading at artificially inflated prices, insiders sold over $400 million worth of their personal holdings.
If you are a member of the class, you may request that the Court appoint you as lead plaintiff by November 21, 2005. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Stull, Stull & Brody, or other counsel of your choice, to serve as your counsel in this action. Stull, Stull & Brody has litigated many class actions for violations of securities laws in federal courts over the past 30 years and has obtained court approval of substantial settlements on numerous occasions. Stull, Stull & Brody maintains offices in both New York and Los Angeles.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Tzivia Brody, Esq. at Stull, Stull & Brody by e-mail at SSBNY@aol.com, by calling toll-free 1-800-337-4983, or by fax at 212/490-2022, or by writing to Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017. You can also visit our website at www.ssbny.com.
Tzivia Brody, Esq.
Stull, Stull & Brody