Minneapolis Firefighters’ Relief Association v. Medtronic, Inc., No. 08-6324 (PAM/AJB) (D. Minn.) (misrepresentations regarding medical device)

As counsel for one of the institutional investor lead plaintiffs representing a class of investors who purchased Medtronic common stock, Sturman LLC prosecuted an action regarding Medtronic’s pervasive campaign of illegal off-label marketing in which the company advised doctors to use Medtronic’s Infuse Bone Graft in ways not approved by the FDA, leading to severe complications in patients.  Medtronic’s stock price dropped significantly after investors learned that the FDA and Department of Justice were investigating Medtronic’s off-label marketing.  The $85 million settlement was approved on November 8, 2012.