Integer Sued by Pension Fund Over Cut Sales Outlook, Stock Drop

Integer Holdings Corp. overhyped its competitive edge and demand for devices that map the heart’s electrical activity before a record stock drop, a public pension fund that owned stock in the company said in a proposed class action.

The medical device maker misled investors about its position in the electrophysiology market when in reality, demand for those products “had fallen off a cliff,” according to the complaint filed Wednesday in the US District Court for the Southern District of New York.

“Indeed, rather than the Company’s EP business outpacing market growth in the burgeoning EP market, revenue growth from Integer’s ...