mail@shareholdersFfundation.com
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Feb 25, 2009 -
According to a press release there is currently an ongoing investigation on behalf of former and current employees of Medtronic, Inc. (NYSE: MDT) concerning potential Employee Retirement Income Security Act (“ERISA”) Breach of Fiduciary Duty. The investigation focuses on investments in Medtronic stock in the Medtronic, Inc. Savings and Investment Plan and the Medtronic Puerto Rico Employees’ Savings and Investment Plan.
If you are a former or current employee or are a member of any of Medtronic Inc. investment plans or profit sharing retirement plans and purchased or held Medtronic Inc. stock (NYSE: MDT) in one of those plans during the periods November 19, 2007 to November 17, 2008 or have information relating to this investigation, you should contact the Shareholders Foundation, Inc. immediately!
Email: Mail@ShareholdersFoundation.com
or Call us TODAY!
Phone: +1-(858)-779-
1554
Medtronic, Inc. (NYSE: MDT) has been accused of securities fraud (please see: Class Action Lawsuit On Behalf Of Medtronic, Inc. (NYSE: MDT) Investors Against Medtronic and Certain of Its Senior Officers and Directors Over Alleged Violations Of Federal Securities Laws Filed; url:
http://shareholdersfoundation.com/case/medtronic-inc-case... ) and according to a press release under ERISA employees (former and current) of Medtronic, Inc. (NYSE: MDT) may be eligible to file a ERISA complaint for putting stock options at risk if they can prove their employer violated its fiduciary duty to them. The Fiduciary duty refers to a company’s responsibility to the people who invest in it and if an employer puts the company’s interest ahead of the investors’, it has broken its fiduciary duty, so the investigation. ERISA, so the press release, is a federal law that sets minimum standards for pension and health plans set up by private businesses and ERISA was designed to protect people who participate in employee benefit plans, including employees with stock options in a company. Specifically, the investigation focuses on whether administrators caused losses to the participants and beneficiaries by causing the Plans to invest in Medtronic stock. It is suspected that Medtronic did not disclose the extent to which revenues from sales of INFUSE Bone Graft , a product manufactured by Medtronic, were dependent on the U.S. Food and Drug Administration rejecting applications;
that Medtronic did not disclose reports of medical injuries sustained by patients who used INFUSE, including the death of a patient who recently filed a wrongful death lawsuit in California; and that Medtronic used a calculated and illegal campaign to market the off-label (not FDA approved) use of INFUSE, so the investigation.
If you are a former or current employee or are a member of any of Medtronic Inc. investment plans or profit sharing retirement plans and purchased or held Medtronic Inc. stock (NYSE: MDT) in one of those plans during the periods November 19, 2007 to November 17, 2008 or have information relating to this investigation, you should contact the Shareholders Foundation, Inc. immediately!
Email: Mail@ShareholdersFoundation.com
or Call us TODAY!
Phone: +1-(858)-779-
1554
or send us your information by mail / facsimile:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423 -
92108 San Diego
Tel:+1-(858)-
779-1554
Fax:+1-(858)-
605-5739
Mail@ShareholdersFoundation.com
www.ShareholdersFoundation.com
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http://www.prlog.org/10189083/1Advertising. The Shareholders Foundation, Inc. is an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We believe that together we can combine the interests of many investors, and use the size of our interest as leverage against the giant corporations. We offer help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Any statements made in press releases, emails or over the phone by any member or personnel employed by Shareholders Foundation, Inc. or by third parties related to the Shareholders Foundation, Inc. is provided for research and guidance purposes only and are not legal advices. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
