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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) ("Boston Scientific") on September
21, 2005, will file a lead plaintiff motion with the Court on November 21,
2005. 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 (nrothstein@scott-scott.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 Companys
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+Scotts 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. Also on the 14th, the Company hired J.P. Morgan
Securities, Deutch Banc Securities and UBS Securities to underwrite the sale
of $750 million of debt to repay borrowings and fund other needs.
The plaintiff is represented by Scott+Scott, LLC, which has significant
experience as lead counsel or active counsel in prosecuting investor class
actions concerning pharmaceutical/medical companies. Such companies include
Taro Pharmaceuticals, Nabi Pharmaceuticals, Imclone Systems (lead), Guidant
Corporation, Pfizer, Merck, Forrest Laboratories, Healthsouth and more. The
firm dedicates itself to client communication and satisfaction and currently
is litigating major securities, antitrust and employee retirement plan actions
throughout the United States. The firm represents pension funds, charities,
foundations, individuals and other entities worldwide. Cases currently being
litigated and/or investigated by Scott+Scott, LLC include: Refco, Inc.;
Guidant Corp.; Abbott Laboratories; HCA, Inc.; Halliburton, and others.
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