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West Virginia Pipe Trades Health & Welfare Fund v. Medtronic, Inc.
Citation:
845 F.3d 384 (2016)Facts
Medtronic developed INFUSE as an alternative to bone grafting procedures, and the FDA approved it for use in lower back spinal fusion surgeries. Following FDA approval, patients treated with INFUSE began incurring serious health problems. Soon the national press reported the dire health issues surround use of INFUSE as well as that the physicians authoring the articles leading to FDA approval stood to benefit and did benefit from INFUSE’s approval. Soon, Medtronic share price fell, and a securities class action based on misrepresentations in the published articles was filed.
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