St. Jude Medical, Inc. Investor Files Lawsuit

If you purchased common stock of St. Jude Medical, Inc. (NYSE:STJ) between April 22, 2009 and October 6, 2009, you have certain options and there are strict and short deadlines running. Deadline: May 17, 2010. Those STJ investors and current long term STJ shareholders, who purchased their STJ before April 2009, should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
St. Jude Medical
Case Name: 
St. Jude Medical Shareholder Class Action 03/19/2010
Case Status: 
Lawsuit Filed
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
03/19/2010
Class Period Begin: 
04/22/2009
Class Period End: 
10/06/2009
Court of Filing: 
U.S. District Court for the District of Minnesota
Deadline To File for Lead: 
05/17/2010
Summary: 

An investor in St. Jude Medical filed a lawsuit in the United States District Court for the District of Minnesota on behalf of purchasers of the common stock of St. Jude Medical, Inc. (Public, NYSE:STJ) between April 22, 2009 and October 6, 2009, alleging violations of Federal Securities Laws by St. Jude Medical.

According to the complaint the plaintiff alleges that St. Jude Medical and certain of its officers and executives violated the Securities Exchange Act of 1934 by failing to disclose between April 22, 2009 and October 6, 2009, material adverse facts about St. Jude Medical's true financial condition, business and prospects. Then on October 6, 2009, St. Jude Medical issued a press release announcing "preliminary third quarter results," for the period ending October 3, 2009. The press release reported that St. Jude Medical was reducing its earnings guidance for the completed third quarter. In response to this announcement, the price of St. Jude Medical common stock (STJ) declined from $38.24 per share to $33.40 per share on extremely heavy trading volume. Shares of St. Jude Medical (STJ) traded recently at $39.41 per share, down from its 52weekHigh of $41.96 per share, $47.97 per share in August 2008, and over $53 per share in 2006.

St. Jude Medical, Inc., located in St. Paul, MN, develops, manufactures and distributes cardiovascular medical devices for the global cardiac rhythm management, cardiology and cardiac surgery and atrial fibrillation therapy areas and implantable neurostimulation devices for the management of chronic pain. The Company operates in four business segments: Cardiac Rhythm Management (CRM), Cardiovascular, Atrial Fibrillation and Neuromodulation Systems. St. Jude Medical, Inc. reported in 2007 Total Revenue of $3.77928billion with a Net Income of $559.04million, in 2008 Total Revenue of $4.36325billion with a Net Income of $384.33million, and in 2009 Total Revenue of $4.68127billion with a Net Income of $777.23million.