Brower Piven Encourages Investors Who Have Losses in Excess of $1,000,000 From Investment in Boston Scientific
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STEVENSON, MD, Apr 22 (MARKET WIRE) --
Brower Piven, A Professional Corporation announces that a class action
lawsuit has been commenced in the United States District Court for the
District of Massachusetts on behalf of purchasers of the common stock of
Boston Scientific Corporation ("BSX" or the "Company") (NYSE: BSX) during
the period between April 20, 2009 and March 12, 2010, inclusive (the
"Class Period").
No class has yet been certified in the above action. Members of the Class
will be represented by the lead plaintiff and counsel chosen by the lead
plaintiff. If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff no later than June 8, 2010
and be selected by the Court. The lead plaintiff will direct the
litigation and participate in important decisions including whether to
accept a settlement and how much of a settlement to accept for the Class
in the action. The lead plaintiff will be selected from among applicants
claiming the largest loss from investment in the Company during the Class
Period. You are not required to have sold your shares to seek damages or
to serve as a Lead Plaintiff. You may contact Brower Piven (through
hoffman@browerpiven.com or 410/415-6616) to answer any questions you may
have in that regard.
The Complaint accuses the defendants of violations of the Securities
Exchange Act of 1934 by virtue of the Company's failure to disclose
during the Class Period that sales and demand for the Company's cardiac
rhythm management ("CRM") products (including implantable cardiac
defibrillator ("ICD")) had been substantially and materially inflated by
the payment of illegal and improper inducements to health care
professionals, reduction of which was falsely attributed to factors other
than the illegality of such inducements and that a material portion of
the Company's CRM reported or anticipated revenues resulted from the sale
of products which had been manufactured without required FDA approval,
such that they were subject to recall and refund or replacement, thus
making defendants' statements about CRM sales in general and sales of
ICDs in particular materially misleading. According to the complaint, on
March 15, 2010, after BSX announced that it was suspending sales of and
was recalling all of its ICD and implantable cardiac resynchronization
therapy defibrillator, or CRT-D, devices because it had changed the
manufacturing process for the devices without obtaining FDA approval, the
value of BSX's stock declined significantly.
If you have suffered a net loss for all transactions in Boston Scientific
Corporation common stock during the Class Period, you may obtain
additional information about this lawsuit and your ability to become a
lead plaintiff by contacting Brower Piven at www.browerpiven.com, by
email at hoffman@browerpiven.com, by calling 410/415-6616, or at Brower
Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson,
Maryland 21153. Attorneys at Brower Piven have combined experience
litigating securities and class action cases of over 40 years. If you
choose to retain counsel, you may retain Brower Piven without financial
obligation or cost to you, or you may retain other counsel of your
choice. You need take no action at this time to be a member of the class.
CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
Stevenson, Maryland
410/415-6616
hoffman@browerpiven.com
Copyright 2010, Market Wire, All rights reserved.
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