A court in Italy levied more than $1 million in fines and penalties against Boston Scientific (NYSE:BSX) and other defendants after finding one of its employees guilty in a criminal case there, the company said today in a regulatory filing.
The Court of Modena, Italy, ordered a trial back in February 2015 against Boston Scientific, a trio of its employees and other defendants, according to the filing.
“The charges arise from allegations that the defendants made improper donations to certain health care providers and other employees of the Hospital of Modena in order to induce them to conduct unauthorized clinical trials, as well as related government fraud in relation to the financing of such clinical trials,” Boston Scientific said.
After a trial began a year and a day later, last November the Modena court convicted one of the employees but acquitted the others. The judge overseeing the case imposed a roughly $302,000 (€245,000) fine against Boston and joint and several civil damages of about $765,000 (€620,000) on all the defendants.
“We continue to deny these allegations, will appeal the decisions when they become finalized in early February 2018 and intend to continue to defend ourselves vigorously,” Boston Scientific said in the filing.
On December 11-12,DeviceTalks West is taking over Orange County's medtech industry with one of the most anticipated conferences of the winter, bringing you the best and brightest minds in the industry.
Dr. Robert Greenberg, Executive Chairman, Alfred E. Mann Foundation
Gary Guthart, President and Chief Executive Officer, Intuitive Surgical
Reggie Groves, CEO, REVA Medical
Use code KEYNOTE to save an additional 10%.