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 […]
Legal News
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. […]
Philips shareholders vote against relieving management of liability
Royal Philips shareholders voiced their displeasure with management’s handling of the company’s massive respiratory device recall at the annual meeting this week. Shareholders voted down a proposal to relieve the board of management of liability, keeping the potential for investor lawsuits related to the Philips Respironics recall on the table. “This follows the voting guidance […]
iRhythm faces another subpoena from the DOJ
Wearable cardiac monitor developer iRhythm disclosed its third subpoena in more than two years from federal investigators. The news raised some questions from analysts, who were otherwise positive about iRhythm’s first-quarter earnings report yesterday evening. San Francisco–based iRhythm said that on April 4, it received a subpoena duces tecum from the U.S. Department of Justice […]
Stryker faces another bribery investigation
Stryker says the U.S. Justice Dept. and Securities and Exchange Commission contacted the company over potential anti-bribery law violations. The Kalamazoo, Michigan-based orthopedic device maker disclosed these contacts in its first-quarter earnings report released on Tuesday. It said it’s cooperating with both agencies as an investigation ensues. Stryker engaged outside counsel to conduct the investigation. […]
Masimo trade secret suit against Apple ends in mistrial
The ongoing patent spat between Masimo and Apple has another twist as a federal judge declared a mistrial. A federal judge in California made the ruling yesterday after jurors could not come to a unanimous verdict, according to a Reuters report. A Masimo spokesperson issued the following statement following the ruling: “While we are disappointed […]
Pear Therapeutics files for Chapter 11 bankruptcy
Pear Therapeutics (Nasdaq:PEAR) announced today that it filed for protection under Chapter 11 of the U.S. Bankruptcy Code. Boston-based Pear and its wholly-owned U.S. subsidiary each voluntarily filed in the U.S. Bankruptcy Court for the District of Delaware. They intend to pursue a sale of the business or assets under section 363 of the Bankruptcy Code. […]
BD names Michelle Quinn as EVP, general counsel
BD announced that it named Michelle Quinn as EVP and general counsel. Franklin Lakes, New Jersey-based BD made Quinn’s appointment effective on April 1. Her responsibilities cover leading the law group at BD. She continues to report to Tom Polen, the company’s chair, CEO and president. Quinn came to BD in 2019. In January of […]
Zoll faces lawsuit over data breach
Zoll Medical has been sued in U.S. District Court in Eastern Massachusetts over its recent data breach that involved more than 1 million people. The law firms Sauder Schelkopf (Berwyn, Pennsylvania) and Milberg Coleman Bryson Phillips Grossman (Garden City, New York) filed the suit on March 24. They’re seeking class-action status. The main plaintiff is […]
Johnson & Johnson will appeal ‘Texas two-step’ decision to Supreme Court
A federal appeals court will not reconsider its rejection of J&J’s complex legal maneuver to shield itself from talc-related liability. The U.S. Court of Appeals for the Third Circuit’s decision on J&J’s “Texas two-step” could set the stage for a U.S. Supreme Court ruling in a case that’s drawn a great deal of attention in […]
DOJ charges former Stimwave CEO over alleged non-functioning neuromod implant
The U.S. Justice Dept. (DOJ) announced today that it filed a two-count indictment charging former Stimwave CEO Laura Perryman, claiming a scheme around the company’s neuromodulation technology. Damian Williams, the United States Attorney for the Southern District of New York, Michael J. Driscoll, the Assistant Director in Charge of the New York Field Office of […]