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Boston Scientific Corporation
Boston Scientific Resolves Outstanding Litigation Matter, Finalizes Goodwill Impairment Charge
March 14th, 2009
Boston Scientific Corporation (NYSE:BSX) announced updated financial results for the fourth quarter ended December 31, 2008. Subsequent to the release of earnings on January 28, the Company accrued for a patent litigation settlement and, as expected, finalized a previously announced goodwill impairment charge. In accordance with U.S. Generally Accepted Accounting Principles, these events are required to be recorded in the fourth quarter as they occurred after the January 28 earnings release and before the filing of the Company's Annual Report on Form 10-K. The patent litigation settlement resulted in a pre-tax charge of $23 million ($18 million after-tax). The...
Source: Law & Health Weekly (2009-03-14)
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