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On February 23, 2017, pre-market, Boston Scientific announced a voluntary recall of its range of Lotus Valve heart devices, citing reports of the premature release of a pin that connects the heart valve device to the delivery system. Boston Scientific stated that it believes the problem to be caused by "excess tension in the pin mechanism introduced during the manufacturing process" and expects to bring the products back to market in Europe and elsewhere in the fourth quarter of 2017.
On this news, Boston Scientific's share price has fallen as much as $1.87, or 7.43%, during intraday trading on February 23, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-boston-scientific-corp--bsx-300412597.html
SOURCE Pomerantz LLP