Boston Scienfitic (BSX) has a deal to "settle all pending federal lawsuits against the company alleging harm from faulty defibrillators and pacemakers for $195 million," according to The Wall Street Journal. It could have been much worse, so the company’s shareholders finally have an event that they can cheer about because the company had pegged the cost at over $700 million.
The tip is gone, but the iceberg is still there. Suits by state authorities are still open and could be for some time.
But, it does lessen the company’s exposure to its current two-front war. Medical researchers have claimed that the company’s stents can cause blood clots and may pose severe health risks. Stent sales have fallen and its is unclear whether any liability cases could be filled on this matter in the future.
Two-front wars are rarely won. BSX is wise to do what it can to put the pacemaker issue behind it.
Douglas A. McIntyre
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
