If you acquired Boston Scientific Corporation common stock between September 16, 2020, and November 16, 2020, you may be entitled to a portion of a class action settlement. This settlement resolves allegations that Boston Scientific and certain executives made false and misleading statements about the company's Lotus Edge medical device, which purportedly inflated the company's stock price. The settlement fund is a substantial $38,500,000, and eligible claimants will need to act by a specified deadline to benefit from it.
Who Benefits?: Individuals and entities who purchased or otherwise acquired Boston Scientific common stock during the specified period and suffered damages as a result.
How much can I get?: The compensation for each claimant will vary based on factors such as the number of shares purchased and the timing of the transactions.
The Settlement Class is defined as all persons or entities who purchased or otherwise acquired Boston Scientific common stock during the period from September 16, 2020, through November 16, 2020, inclusive, and were damaged thereby.
The Settlement provides a $38,500,000 fund to compensate eligible Class Members. The distribution of the Net Settlement Fund will be determined by the Plan of Allocation, which is subject to Court approval.
The settlement addresses claims related to Boston Scientific's Lotus Edge medical device. The allegations suggest that the company made false and misleading statements about the device's safety and financial impact, which influenced the stock price.
Yes, claimants must provide documentation to substantiate their transactions in Boston Scientific common stock during the Class Period to claim a reward.
To claim your award, you must submit a completed Claim Form, along with the necessary supporting documentation, by the May 28, 2024 deadline. Claim Forms can be submitted online at Boston Scientific Securities Litigation Claim Form.
The $38,500,000 Settlement Fund is the result of negotiations to resolve the claims against Boston Scientific and certain executives. The fund will be used to compensate eligible Class Members who file valid claims, after deductions for Court-approved fees and expenses.
The settlement provides a way for many individuals to resolve common legal grievances without each investor needing to file an individual lawsuit. It avoids the costs, risks, and delays associated with continued litigation and is not an admission of wrongdoing by Boston Scientific or the Individual Defendants.