Medtronic will pay $85 million to settle a class-action shareholder lawsuit related to its Infuse bone graft product.
Originally filed in 2008, the lawsuit claimed that Medtronic did not disclose to shareholders the adverse effects of its Infuse product, illegally marketed the product for uses not approved by regulators, and did not disclose to shareholders how much of the company's revenue from Infuse came from these unapproved uses, according to a story in Twin Cities Business.
Medtronic explicitly denies that it made any misrepresentations or omissions or that it otherwise engaged in any wrongdoing, according to a company press release.
In 2007, the U.S. Food and Drug Administration approved Infuse for certain oral, maxillofacial, and dental regenerative uses.
