Medtronic Shakes Investor Claims Over Insulin Pump Problems

Medtronic PLC investors failed to state claims for security fraud tied to the device maker’s statements about allegedly flawed models of its MiniMed insulin pumps, a federal court ruled Thursday.

The investors targeted statements that variously are not false, express corporate optimism, or look to the future with accompanying risk disclosures, Judge Katherine Menendez said for the US District Court for the District of Minnesota. Further, they didn’t show the necessary level of intent, she said in dismissing the proposed stock-drop class action.

• The investors alleged Medtronic touted the popularity of its existing MiniMed 670G system but then warned consumers ...