NEW YORK, April 16, 2010 (GLOBE NEWSWIRE) -- The Brualdi Law Firm, P.C. announces that a lawsuit has been commenced in the United States District Court for the District of Massachusetts on behalf of purchasers of Boston Scientific Corporation ("BSX" or the "Company") (NYSE:BSX) stock during the period between April 20, 2009 and March 12, 2010, inclusive (the "Class Period"), for violations of the federal securities laws.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased BSX common stock during the Class Period and wish to move the court for appointment of lead plaintiff, you must do so by June 8, 2010. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You do not need to seek appointment as a lead plaintiff in order to share in any recovery.
To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. 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 Sue Lee or David Titus at The Brualdi Law Firm, P.C. 29 Broadway, Suite 2400, New York, New York 10006, by telephone toll free at (877) 495-1187 or (212) 952-0602, by email to slee@brualdilawfirm.com or dtitus@brualdilawfirm.com or visit our website at http://www.brualdilawfirm.com.
The Complaint charges that BSX and certain of its officers and executives violated federal securities laws. Specifically, defendants failed to disclose the following adverse facts: (i) sales and demand for BSX's Cardiac Rhythm Management ("CRM") products had been materially inflated by the payment of illegal and improper inducements to health care professionals; (ii) a material portion of the Company's reported CRM revenues resulted from the sale of products which had been manufactured without required FDA approval; (iii) demand for the Company's CRM products had weakened due to the curtailment of illegal payments; and (iv) that there were defects in the headers of certain of the Company's implantable cardiac defibrillator ("ICD") products such that defendants' statements about CRM sales in general and sales of ICDs in particular were materially misleading.The Brualdi Law Firm, P.C. is a New York, New York-based law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, with a particular emphasis on sophisticated class action litigation in the securities and antitrust areas, as well as corporate derivative suits. More information about the firm is available through its website, www.brualdilawfirm.com, and upon request from the firm.
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