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Boston Scientific settles ICD suits

This article was originally published in The Gray Sheet

Executive Summary

Implantable cardioverter defibrillator maker will pay $195 million to settle class-action litigation stemming from a series of ICD recalls by its Guidant unit in 2005 and 2006, the company says July 13. Pending "certain conditions," the settlement will resolve nearly 4,000 individual claims that had been consolidated in the U.S. District Court for the District of Minnesota. The agreement includes an undetermined number - but not all - of additional similar claims throughout the country, the company says. Pending implementation of the agreement, trials that had been scheduled to start July 30 have been suspended (1"The Gray Sheet" June 18, 2007, In Brief)...

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