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Boston Scientific Corporation

Boston Scientific Announces Agreement to Settle Product Lawsuits

Published in Law and Health Weekly, August 4th, 2007

Boston Scientific Corporation (NYSE:BSX) announced that an agreement has been reached to settle claims associated with a series of product communications issued by Guidant Corporation in 2005 and 2006. Boston Scientific acquired Guidant Corporation last year.

The agreement was reached during mediation sessions conducted before U.S. Magistrate Judge Arthur J. Boylan in Minneapolis.

Under the terms of the agreement, subject to certain conditions, Boston Scientific will pay a total of $195 million. The agreement includes approximately 4,000 claims of individuals that have been consolidated in the U.S. District Court for the District of Minnesota in a...

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