St. Jude Medical, Inc. (NYSE:STJ) Investor Alert: Investigation Concerning Possible Violations Of Securities Laws Announced

If you purchased shares of St. Jude Medical, Inc. (NYSE:STJ), you have certain options and you should contact the Shareholders Foundation, Inc.

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Company Name(s): 
St. Jude Medical
Affected Securities: 

October 13, 2016 (Shareholders Foundation) - An investigation on behalf of investors of St. Jude Medical, Inc. (NYSE:STJ) shares over potential securities laws violations by St. Jude Medical, Inc. and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of St. Jude Medical, Inc. (NYSE:STJ) concerning whether a series of statements by St. Jude Medical, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

St. Jude Medical, Inc. reported that its Total Revenue declined from over $5.62 billion for the 53 weeks period that ended on January 3, 2015 to over $5.54 billion for the 52 weeks period that ended on January 2, 2016 and that its Net Income for those respective time periods declined from over $1 billion to $880 million.

On April 28, 2016, Abbott Laboratories announced a definitive agreement to acquire St. Jude Hospitals, Inc. ("St. Jude"), citing St. Jude's "strong positions in heart failure devices, atrial fibrillation and cardiac rhythm management."
Shares of St. Jude Medical, Inc. (NYSE:STJ) rose to as high as $83.90 per share in August 2016.

Then on October 11, 2016, pre-market, St. Jude Medical, Inc reportedly issued a letter to physicians and patients warning that batteries on thousands of the Company's implantable defibrillators can quickly and unexpectedly deplete. St. Jude Medical, Inc reportedly stated that two people had died after their devices failed to work correctly because of the drained battery, while 47 others reported dizziness or fainting. The warning applies to devices made before May 2015, which are in use by roughly 350,000 people worldwide.

Abbott Laboratories stated that the Company still expects to close its acquisition of St. Jude by the end of this year.