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Case Status:    DISMISSED    
On or around 08/20/2001 (Date of order of final judgment)

Filing Date: November 04, 1998

According to the Company’s FORM 10-Q for the quarterly period ended September 30, 2001, in August 1999, lead plaintiffs and lead counsel filed a purported consolidated class action complaint adding allegations that the Company issued false and misleading statements with respect to the launch of its NIR ON(R) Ranger(TM) with Sox(TM) coronary stent delivery system and the system's subsequent recall. Following a hearing on a motion by the Company and its officers, the court dismissed the case without prejudice on August 16, 2001.

The original Complaint alleges that defendants issued false and misleading statements during the Class Period about its previously reported revenues and assets. Specifically, the complaint alleges that the Company improperly recorded $40-50 million in revenues in the first nine months of fiscal 1998 due to accounting irregularities at its Japanese subsidiary. In addition, the Complaint alleges that there is an additional $40 million of net unrealizable assets on Boston Scientific's balance sheet also due to similarly improper sales recorded in prior periods. Plaintiff alleges that defendants' misleading positive statements about the Company's financial results artificially inflated the price of Boston Scientific common stock. When news of Boston Scientific's improper accounting practices was reported on November 3, 1998, the Company's stock fell $5.875 per share or 11% before trading in the stock was halted. When trading resumed on November 4, 1998, the stock opened at
$40-1/4, down another $6-1/8. The total percentage drop was 23%.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Medical Equipment & Supplies
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: BSX
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. Massachusetts
DOCKET #: 98-CV-12239
JUDGE: Hon. Patti B. Saris
DATE FILED: 11/04/1998
CLASS PERIOD START: 04/28/1998
CLASS PERIOD END: 11/03/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Berger & Montague PC
    1622 Locust Street, Berger & Montague PC, PA 19103
    800.424.6690 215.875.4604 · investorprotect@bm.net
  2. Finkelstein & Krinsk LLP
    501 West Broadway, Suit 1250, Finkelstein & Krinsk LLP, CA 92101
    877.493.5366 619.238.5425 ·
  3. Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA)
    600 West Broadway, 1800 One America Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA), CA 92101
    800.449.4900 · support@milberg.com
  4. Moulton & Gans LLP
    133 Federal Street, Moulton & Gans LLP, MA 2110
    617.369.7979 ·
  5. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
  6. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
No Document Title Filing Date
COURT: D. Massachusetts
DOCKET #: 98-CV-12239
JUDGE: Hon. Patti B. Saris
DATE FILED: 08/10/1999
CLASS PERIOD START: 01/01/1997
CLASS PERIOD END: 11/03/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cauley Geller Bowman Coates & Rudman, LLP (New York)
    200 Broadhollow, Suite 406, Cauley Geller Bowman Coates & Rudman, LLP (New York), NY 11747
    631.367.7100 631.367.1173 ·
  2. Finkelstein & Krinsk LLP
    501 West Broadway, Suit 1250, Finkelstein & Krinsk LLP, CA 92101
    877.493.5366 619.238.5425 ·
  3. Law Offices of Bruce G. Murphy
    265 Llwyds Lane, Law Offices of Bruce G. Murphy, FL 32963
    561.231.4202 ·
  4. Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY)
    One Pennsylvania Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY), NY 10119-1065
    212.594.5300 ·
  5. Moulton & Gans LLP
    133 Federal Street, Moulton & Gans LLP, MA 2110
    617.369.7979 ·
  6. Schiffrin & Craig, Ltd.
    Three Bala Plaza East Suite 400, Schiffrin & Craig, Ltd., PA 19004
    610.667.7706 610.667.7056 ·
No Document Title Filing Date