LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP announces that it is investigating potential claims on behalf of purchasers of the securities of St. Jude Medical, Inc. (“St. Jude Medical” or the “Company”) (NYSE:STJ) concerning possible breaches of fiduciary duties by the Company or its fiduciaries.
St. Jude Medical develops, manufactures and distributes cardiovascular and implantable neurostimulation medical devices worldwide, including tachycardia implantable cardioverter defibrillator systems (ICDs) for patients suffering from lethal cardiac problems, such as sudden cardiac arrest. The investigation is focused on the Company’s statements concerning an inspection by the U.S. Food and Drug Administration (FDA) of St. Jude Medical’s Sylmar, California, production facility.
In 2011, the Company’s implantable Riata ICD was recalled due to instances in which the insulation of the Riata leads had experienced so-called “inside-out” abrasion failures. The investigation is related to the next-generation ICD, know as Durata, and whether the Company failed to disclose material adverse information concerning the Durata and the findings of FDA investigators concerning the conditions and practices at the Durata production facility.
If you purchased St. Jude Medical shares prior to October 17, 2012 and still hold those shares, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by telephone at 310-201-9150, Toll-Free at 888-773-9224, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com.
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