LivaNova Falls After Court Order to Pay $519 Million in Damages

LivaNova falls the most intraday in more than a year after the Court of Appeal of Milan ordered the medical technology company to pay $519 million as a result of a civil action. Piper said the news is unexpected, and the shares are down as much as 10%.

• “This update is disappointing news for the company and shareholders -- and one that we think will catch some investors off-guard,” analyst Adam Maeder writes
• He notes the company’s strong disagreement with the order and its vow to appeal to the Italian Supreme Court
  • NOTE: In a release late Nov. 12, LivaNova ...