According to the Complaint, Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. The Company’s products include, among others, the LOTUS Edge Aortic Valve System, which is a TAVR product.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and compliance policies. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) the LOTUS Edge Aortic Valve System's product delivery system was dysfunctional and threatened the continued viability of the entire product line; (ii) as a result, the Company had materially overstated the continued commercial viability and profitability of the LOTUS Edge Aortic Valve System; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.

On January 4, 2021, this case was transferred to the District of Massachusetts. On March 30, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. The cases were consolidated under Docket 20-CV-12225. Lead Plaintiff filed an amended consolidated Complaint on June 4. Defendants filed a Motion to Dismiss the amended consolidated Complaint on July 19.

On December 20, 2022, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.

The parties entered into a Stipulation and Agreement of Settlement on December 14, 2023. On December 27, the Court granted preliminary approval of the Settlement. On April 23, 2024, the Court granted final approval of the Settlement, including an award of Attorneys’ Fees and Expenses, and entered Final Judgment.