3M is nearing a settlement with attorneys representing hundreds of thousands of veterans who say the company’s earplugs failed to protect them from hearing loss, according to media reports citing people close to the discussions. Bloomberg News and The Wall Street Journal say the manufacturing giant would pay $5.5 billion under the tentative deal. Experts […]
Legal News
SmileDirectClub to appeal order to pay Align Technology $63M
SmileDirectClub (Nasdaq:SDC) intends to appeal an arbitration decision ordering it to pay $63 million to Align Technology (Nasdaq:ALGN). Align Technology announced this week that the Superior Court, State of California, County of Santa Clara, issued an order granting a petition from Align. It confirmed and denied SmileDirectClub’s petition to vacate the $63 million arbitration award […]
Illumina says SEC is investigating Grail acquisition
Add a U.S. Securities and Exchange Commission investigation to the list of problems that Illumina has faced since it acquired Grail for $8 billion in 2021. Illumina disclosed the investigation in its 10-Q filed with the SEC on Aug. 10: “In July 2023, we were informed that the staff of the SEC was conducting an […]
Court rejects Johnson & Johnson bankruptcy gambit over talc suits
A U.S. bankruptcy judge in New Jersey has dismissed a Johnson & Johnson-created company’s bankruptcy filing to resolve talc-related lawsuits. Judge Michael Kaplan’s ruling on July 28 was similar to a U.S. Court of Appeals for the Third Circuit ruling months ago, which failed to find immediate financial distress over the lawsuits. As recounted in […]
Report: Insulet prevails over Medtrum in France patent spat
According to a report in Europe, a Paris, France, court found that Medtrum’s latest insulin pumps infringe an Insulet (Nasdaq:PODD) patent. JUVE Patent reported that earlier this month, the Judicial Court of Paris declared the infringement. The court found that Medtrum’s newest pump base and patch reservoir models violate the EP2438957B1 patent from Insulet. In […]
EU hits Illumina with $478M fine over Grail deal
The European Commission announced today that it issued significant fines to Illumina (Nasdaq:ILMN) and Grail as a result of their proposed merger. European authorities fined Illumina approximately $478.9 million (€432 million) and Grail $1,108 (€1,000). They claim the companies implemented their proposed merger before approval by the Commission. Such actions breach European Union merger control […]
FTC critiques Medtronic’s legal reasoning in antitrust case
The U.S. Federal Trade Commission wants to have a say in Applied Medical Resources’ antitrust lawsuit against Medtronic. Rancho Santa Margarita, California–based Applied Medical filed the lawsuit in February in U.S. District Court in Central California. The lawsuit accuses the medtech giant of using its size to shut down competition in the U.S. market for […]
Former DePuy Synthes sales rep accused of defrauding Boston area hospital
Federal prosecutors claim a former DePuy Synthes sales representative defrauded an undisclosed Boston area hospital, with hundreds of thousands of dollars worth of spine products involved. According to a federal grand jury indictment announced this week in Massachusetts, Matthew Capobianco falsely represented on usage forms that more—and more expensive—Johnson & Johnson DePuy products were used […]
Precision Lens owner dies in plane crash
Precision Lens owner Paul Ehlen died yesterday in Montana, shortly after taking off in a World War II vintage P-40E on the way back to Minneapolis. Precision Lens confirmed Ehlen’s death in a statement shared with Twin Cities media outlets: “Paul had a passion for restoring and flying vintage military aircraft, and he was killed […]
Precision Lens, owner hit with $487M judgement in kickbacks case
A U.S. District Judge entered a judgment against Precision Lens and its owner, Paul Ehlen, for more than $487 million in a kickback case. Judge Wilhelmina M. Wright’s decision follows a verdict handed down by a federal jury in Minnesota earlier this year. The jury concluded that the defendants violated the False Claims Act and […]
Philips to pay more than $62M to settle FCPA charges
The U.S. SEC announced that Philips will pay $62 million to resolve charges that Chinese subsidiaries violated the Foreign Corrupt Practices Act. The Dutch medtech giant consented to yesterday’s SEC order without admitting or denying the agency’s findings. It’ll pay $15 million in civil penalties and more than $47 million in disgorgement and prejudgment interest. […]