This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Hagens Berman Investigates St. Jude Medical, Inc., Advises Investors Of Oct. 17 To Nov. 20, 2012 Class Period In Lawsuit

Hagens Berman Sobol Shapiro, LLP, a national investor-rights law firm, today announced it is investigating St. Jude Medical, Inc. (NYSE: STJ) (“St. Jude”) for potential violations of the securities laws and advised investors of the Feb. 5, 2013, lead plaintiff deadline in a securities lawsuit filed on their behalf.

If you purchased shares of St. Jude common stock between Oct. 17, 2012 and Nov. 20, 2012, inclusive (the “class period”), suffered significant losses and wish to move to be a lead plaintiff, you may contact Hagens Berman Partner Reed Kathrein, who is leading the firm’s investigation, by calling (510) 725-3000 or emailing

The deadline to move for lead plaintiff in the filed lawsuit is Feb. 5, 2013. The lawsuit, filed on Dec. 7, 2012, in the U.S. District Court for the District of Minnesota, alleges that St. Jude and its chief executives distributed misleading information to shareholders regarding the Food and Drug Administration’s (FDA) ongoing investigation of the company’s facility in Sylmar, Calif.

In 2011, St. Jude told its physicians about abrasion failures with the company’s Riata product, a medical lead used to connect implantable cardiac defibrillators (ICDs) to the heart. This resulted in a recall of the Riata product, according to the complaint.

As St. Jude developed its new ICD lead, the Durata, the FDA continued its investigation of the conditions and practices at the company’s facility in Sylmar, and as a result, the FDA issued a Form 483, a form used by FDA investigators to note objectionable conditions or practices that could ultimately result in more serious public FDA warnings.

According to the lawsuit, on Oct. 17, 2012, during St. Jude's third quarter earnings announcement, the company stated that the ongoing FDA inspection of the company was likely to result in the issuance of a Form 483, but company executives failed to give specific details regarding the noted problems and the products in question. After this announcement, St. Jude publicly released a version of the Form 483, which omitted much of the FDA’s findings, the lawsuit alleges.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.64 0.00%
FB $118.57 0.00%
GOOG $698.21 0.00%
TSLA $241.80 0.00%
YHOO $36.53 0.00%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs