St. Jude Sues Muddy Waters Over Heart Device Allegations

St. Jude Medical Inc., the medical device company targeted by Carson Block and his investment firm Muddy Waters LLC for weaknesses in the cybersecurity of its medical devices, filed a lawsuit accusing the short-seller of intentionally disseminating false information (St. Jude Medical v. Muddy Waters Consulting, LLC, D. Minn., 16-03002, complaint 9/6/16).

The Sept. 6 lawsuit alleges that Muddy Waters and other defendants made false statements about St. Jude Medical’s implantable cardiac management devices to lower the value of St. Jude’s stock and profit from a drop in share value, the St. Paul, Minn.-based company said in ...