Home » COURT SETTLEMENT ENDS A TRYING PERIOD FOR MEDICAL DEVICE MAKER
COURT SETTLEMENT ENDS A TRYING PERIOD FOR MEDICAL DEVICE MAKER
The settlement of a class action lawsuit in state court, after a negotiated end to a federal complaint, has finally closed the books on a trying period for Paradigm Medical Industries. In all, the West Valley City medical device maker shelled out more than $2.2 million to snuff suits filed by disgruntled stockholders in 3rd District and U.S. District courts 2 1/2 years ago. The suits alleged that from April 2001 to June 2003, Paradigm knowingly violated federal securities laws to artificially boost investors' confidence and share prices.
Salt Lake Tribune (http://www.sltrib.com/portlet/article/html/fragments/print_article.jsp?article=3074061)
KEYWORDS FDAnews Device Daily Bulletin
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