Bloomberg Law
Sept. 9, 2022, 4:53 PMUpdated: Sept. 9, 2022, 8:32 PM

Medtronic Hid Quality Issues With Insulin Pump, Lawsuit Says (1)

Martina Barash
Martina Barash

Medtronic PLC investors were alerted to years of quality problems with a line of insulin pumps only when the FDA issued a warning letter in late 2021, leading to two drops in the medical device maker’s stock price, stockholders say in a proposed class action.

Medtronic violated securities laws when it failed to disclose that its quality control systems were inadequate and that it hadn’t complied with regulations, three institutional investors say in the complaint, filed Thursday in the US District Court for the District of Minnesota. It also didn’t say that quality-related delays in Food and Drug Administration approval ...

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