Medtronic Will Pay $268 Million to Settle Defibrillator Suits

By Jack Simony

Medtronic will pay $268 million to end the Meditronic Sprint Fidelis defribillation suits following a 2007 recall of the devices, Law.com reported.

The company’s decision comes as the related suits are pending in Minneapolis federal multidistrict litigation and other courts throughout the company.

“The settlement is a compromise of disputed claims, and the parties have not admitted any liability or the validity of any defense in the litigation,” said the company in a statement.

– By Jack Simony

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About Jack Simony

Jack Simony is a hedge fund portfolio manager from New York City. More information and a full biography can be found by visiting http://www.jacksimony.org.
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