Medtronic Investors Get Lead Plaintiff in Pump Quality Lawsuit

An Israeli insurance company and asset manager that say they lost more than $15 million by investing in Medtronic PLC stock will lead a proposed class lawsuit alleging the medical device maker concealed quality problems with insulin pumps.

The Phoenix Holdings Ltd. units’ choice of law firms is also approved, Magistrate Judge John F. Docherty said Wednesday for the US District Court for the District of Minnesota. Robbins Geller Rudman & Dowd LLP will serve as lead counsel and Zimmerman Reed LLP as local counsel.

Three US-based union pension and welfare funds sued Medtronic in September, alleging they were alerted ...