NEW YORK, July 1, 2013 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Medtronic, Inc. ("Medtronic" or the "Company") (NYSE: MDT).
The investigation focuses on whether the Company and its executives violated federal securities laws with respect to its disclosures concerning business, operational, and compliance policies. Specifically, the investigation focuses on whether Medtronic made false and misleading statements concerning the use of its INFUSE® Bone Graft ("Infuse") product in order to reduce pain and complications in connection with degenerative disc disease treatment.
After receiving an inquiry from the U.S. Senate regarding Infuse and the publication of The Spine Journal issue critical of Infuse, on August 3, 2011, the Company announced that it would not only release Infuse data to Yale University researchers, but that it would pay Yale $2.5 million to, among other things, create a database that could be used by the public to access information about Infuse. Following this news and subsequent analyst reports, Medtronic's stock price dropped nearly 24% from its Class Period high
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If you invested in Medtronic's stock or options between December 8, 2010 and August 3, 2011 and would like to discuss your legal rights, visit www.faruqilaw.com/MDT. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com or firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Medtronic's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP
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New York, NY 10017
Attn: Richard Gonnello, Esq.
Francis McConville, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
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