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Home » Stryker agrees to pay $80M to settle OtisMed beef | Medtech legal news for the week of December 8, 2014

Stryker agrees to pay $80M to settle OtisMed beef | Medtech legal news for the week of December 8, 2014

December 15, 2014 By MassDevice Contributors Network

Stryker settles OtisMed beef for $80m

December 8, 2014 by Brad Perriello

Stryker settles OtisMed beef for $80m

Stryker agreed to pony up $80 million to settle a federal beef over its OtisMed subsidiary, after the company and its former CEO pleaded guilty to distributing knee replacement surgery cutting guides without FDA clearance, the company and prosecutors said today.

Stryker agreed to pay $76.6 million plus interest to settle the whistleblower lawsuit, in which OtisMed and former CEO Charlie Chi pleaded guilty, according to the New Jersey U.S. attorney’s office. OtisMed also agreed not to participate in federal healthcare programs for 20 years, according to a press release. Read more

Bard battles move to consolidate pelvic mesh cases

December 10, 2014 by Brad Perriello

Bard battles move to consolidate pelvic mesh cases

C.R. Bard is fighting a bid by the plaintiffs in a raft of product liability lawsuits to have the 185 cases tried together.

Judge Joseph Goodwin of the U.S. District Court for Southern West Virginia is supervising the MDL involving thousands of the lawsuits filed over Bard’s pelvic mesh devices for pelvic organ prolapse and stress urinary incontinence. Goodwin earlier ordered each side in the litigation to select 100 cases for simultaneous “waves” of preparation. Read more

Palmaz Scientific sues law firms

December 8, 2014 by Brad Perriello

Palmaz Scientific sues law firms

Palmaz Scientific sued a pair of law firms that once represented it, alleging that they conspired to conceal 1 of the firms’ liability in an arbitration dispute with a former Palmaz limited partner, according to court documents.

The lawsuit, filed Oct. 23 in a Texas state court, alleges that the law firms – Akin Gump Strauss Hauer & Feld and Baker Botts – and former Akin Gump attorney Cecil Schenker concealed the fact that Akin Gump was partially liable for damages in an arbitration case with Christopher Boyle, a former limited partner in a Palmaz Scientific subsidiary. Read more

No new trials for ex-ArthroCare CEO, CFO

December 8, 2014 by Brad Perriello

No new trials for ex-ArthroCare CEO, CFO

There will not be any new trials for 2 former ArthroCare executives, a federal judge in Texas ruled Dec. 4.

Former ArthroCare CEO Michael Baker and CFO Michael Gluk were convicted last June of running a scheme to defraud investors of more than $750 million; Baker was sentenced to 20 years in prison and Gluk drew a 10-year term. Read more

Ex-Heart Tronics-Signalife exec draws 17-year sentence

December 9, 2014 by Mark Hollmer

Ex-Heart Tronics-Signalife exec draws 17-year sentence

A federal judge hit former Heart Tronics/Signalife outside legal counsel Mitchell Stein with a 17-year prison sentence for illegally inflating share prices for the heart monitor device maker he once worked for.

The U.S. Justice Dept.’s Criminal Division and the U.S. attorney’s office for southern Florida, which prosecuted the case, announced the sentencing. Read more

Filed Under: Legal News, News Well Tagged With: Advanced Bio Prosthetic Surfaces, Akin Gump Strauss Hauer & Feld, ArthroCare Corp., Baker Botts, Boston Scientific, C.R. Bard, Heart Tronics, Legal Roundup, OtisMed, Palmaz Scientific, Signalife, Stryker, U.S. Justice Dept. (DOJ)

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