Summary
Boston Scientific Corporation (BSX) filed an 8-K report on April 30, 2001, detailing several significant events that occurred in April 2001. The primary focus is on a developing legal dispute with Medinol Ltd., the manufacturer of the NIR(R) stent, which Boston Scientific exclusively sells. Medinol filed a lawsuit alleging various claims against Boston Scientific and some of its employees. Boston Scientific has responded to these allegations, including an amendment by Medinol claiming misappropriation of stent technology for Boston Scientific's own Express(TM) coronary stent.
Key Highlights
- 1Boston Scientific is involved in a legal dispute with Medinol Ltd., the manufacturer of the NIR(R) stent.
- 2Medinol filed a lawsuit against Boston Scientific and several employees on April 5, 2001.
- 3Boston Scientific has issued its own press releases responding to Medinol's allegations and providing its perspective.
- 4Medinol amended its lawsuit on April 26, 2001, alleging that Boston Scientific misappropriated NIRFlex(TM) stent technology for its Express(TM) coronary stent.
- 5On April 30, 2001, Boston Scientific filed its own lawsuit against Medinol and its principals, alleging fraud, breach of contract, and defamation.
- 6Boston Scientific announced the submission of an Investigational Device Exemption (IDE) application to the FDA for its internally developed Express(TM) coronary stent on April 11, 2001.