Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the District of Minnesota on behalf of all persons or entities that purchased the common stock of St. Jude Medical, Inc. (“St. Jude” or the “Company”) (NYSE: STJ) between October 17, 2012 and November 20, 2012, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased shares of St. Jude during the Class Period, or purchased shares prior to the Class Period and still hold St. Jude, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, NY at (888) 969-4242, by e-mail to email@example.com, or at: http://www.rigrodskylong.com/investigations/st-jude-medical-inc-stj-durata.
St. Jude, a Minnesota corporation headquartered in St. Paul, Minnesota, develops, manufactures and distributes cardiovascular medical devices for the global cardiac rhythm management, cardiology and cardiac surgery and atrial fibrillation therapy areas and neurostimulation medical devices for the management of chronic pain. The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. Specifically, the Complaint alleges that the Defendants concealed relevant information from the investment community relating to a report issued by the United States Food and Drug Administration (“FDA”) for one of its chief products, the Durata defibrillation lead. As a result of defendants’ false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period. Capitalizing on this was the Company’s Chief Executive Officer, Daniel J. Starks, who took advantage of the artificially inflated prices of St. Jude stock, and sold 200,000 shares for proceeds totaling more than $7.6 million.