The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the District of Minnesota on behalf of investors who purchased Medtronic plc (NYSE: MDT) common stock between June 8, 2019 and May 25, 2022.
According to the Medtronic lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Medtronic’s product quality control systems were inadequate; (2) Medtronic had failed to comply with numerous regulations regarding risk assessment, corrective and preventive action, complaint handling, device recalls, and reporting of adverse events; (3) these failures increased the risk of regulatory investigation and action; (4) as a result of the Company’s misconduct, the U.S. Food and Drug Administration would delay the approval of additional Medtronic MiniMed devices, including the MiniMed 780G; (5) these delays in product approvals, as well as the Company’s need to improve its quality control systems, would negatively affect the Company’s financial performance and cause Medtronic to fall further behind its competitors; and (6) as a result of the foregoing, defendants’ statements about the Company’s business, operations, and prospects lacked a reasonable basis.
If you suffered a loss in Medtronic you have until November 7, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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