Nuance Communications (NSDQ:NUAN) CEO Paul Ricci allegedly tried to lay $5 million bribes before a trio of executives at competitor Vlingo Inc. in an effort to force through a below-market-price buyout, according to a lawsuit filed by Vlingo against its Massachusetts peer.
Legal News
Bovie Medical shareholders sue over management’s alleged misdeeds
Shareholders of Bovie Medical Corp. (AMEX:BVX) are suing the company, alleging that mismanagement and nepotism have caused the company to miss out on commercialization and acquisition opportunities.
Health care reform: Point goes to individual mandate supporters in latest legal volley
In the latest volley in individual insurance mandate lawsuits, a Fourth Circuit court dismissed two challenges to the reform without passing judgment on the measure itself.
In a lawsuit filed by Virginia state attorney general Kenneth Cuccinelli, the three-judge panel ruled that that state had no legal standing to defend the lawsuit, and in a second case brought by Liberty University the judges filed a split decision that the lawsuit lacked proper subject-matter jurisdiction.
Neurologica, Analogic bury the hatchet
NeuroLogica Corp. and its sister firm, medical imaging giant Analogic Corp. (NSDQ:ALOG), buried the hatchet yesterday, settling a lawsuit accusing Analogic of interfering with NeuroLogica’s acquisitions.
The companies are related by dint of being founded by Bernard Gordon, who’s chairman of NeuroLogica and chairman emeritus at Analogic.
ArthroCare gets $8M to settle shareholder suit, denies wrongdoing
ArthroCare Corp. (NSDQ:ATRC) settled a shareholders’ lawsuit by agreeing to an $8 million payment from its insurers, more than a quarter of which will go to the plaintiffs’ lawyers, according to court documents.
The Austin, Texas-based surgical device maker copped in 2009 to a scheme by which personal injury lawyers would refer patients to doctors who would then use one of ArthroCare’s spinal surgery devices. The 2009 announcement also detailed restated earnings for the previous four years.
Analysts bearish on C.R. Bard
Analysts at a trio of investment advisory firms downgraded their estimates for C.R. Bard (NYSE:BCR) stock, which hasn’t fared well recently.
Real-time ECG monitoring shows greater heart lesions during earthquake | MassDevice.com On Call
MASSDEVICE ON CALL — Real-time heart monitoring for the first time showed a massive increase in cardiac events during the February 2010 earthquake in Chile.
Similar research has shown an relationship between reported patient heart problems and tragic events, such as in the aftermath of the 9/11 attacks on the World Trade Center buildings in New York, but the reports came from the days and weeks after the attack. Using ECG telemonitors, researchers were able to gather data in real-time from patients reporting to hospitals during the tragic earthquake in Chile last year.
Stryker/Biomet’s rumored affair with SNN, massage strangler warnings, breast implants, the best of the summer, med-tech spending cuts and Stryker’s overseas efforts made headlines this week | MassDevice.com +7
Say hello to MassDevice +7, a bite-sized view of the top seven med-tech stories of the week. This latest feature of MassDevice.com’s coverage highlights our seven biggest and most influential stories from the week’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
If you read nothing else this weekend, make sure you’re still in the know with Massdevice +7.
St. Jude accused in failed lead placement surgery that paralyzed a patient
St. Jude Medical Inc. (NYSE:STJ) found itself in the middle of a lawsuit over a botched neurostimulator lead surgery that resulted in lower body paralysis for a patient in Santa Fe.
Device company logs legal win against cyber bully
Revolutions Medical Corp. (PINK:RMCP) landed a court victory over "Tazmanian353" for defaming remarks made against the company and its CEO through online message boards.
Taz, also known as Philip Hicks, was found liable for comments made on Yahoo! Finance and Raging Bull online forums alleging that Revolutions was just a "shell company" without legitimate operations or real patents and that CEO Ron Wheet "lied in official documents" and made "fraudulent misleading statements."
Acquisition rumors for SNN by Biomet or Stryker, J&J under pressure to recall silicone breast implants, Medtronic and NuVasive rekindle patent spat | MassDevice.com +3
Say hello to MassDevice +3, a bite-sized view of the top three med-tech stories of the day. This latest feature of MassDevice.com’s coverage highlights our three biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
If you read nothing else today, make sure you’re still in the know with Massdevice +3.