US health regulator plans ‘thorough’ probe of St. Jude case

Muddy Waters said its report was an expression of opinion.

St. Jude’s spokeswoman Candace Steele Flippin said the company is “confident in its legal position and took this action because of the irresponsible manner in which the defendants have acted”.

St. Jude Medical is taking allegations of serious security vulnerabilities in the firm’s medical devices to heart with a lawsuit created to “set the record straight”.

The lawsuit was filed in federal court in Minnesota.

Some security experts have questioned whether it would have been more appropriate for MedSec to have reported the alleged flaws to the US Food and Drug Administration (FDA), the body responsible for regulating electronic medical devices in the US. The company’s next earnings report is expected to be released on or around 2016-10-19 for the period ending on 2016-09-30. St. Jude Medical makes up approx 0.07% of Great West Life Assurance Co Can’s portfolio.

The medical device company is in the process of being acquired by Abbott Laboratories, and any disruption of the deal could have sent St. Jude’s shares plummeting. The First Amendment of the U.S. Constitution is the “first line of defense” in defamation lawsuits brought against short-sellers, researchers, analysts, bloggers and anyone else whose opinion of a company may have influenced its stock price, said Michael Asaro of Akin Gump, who specializes in white-collar and regulatory investigations and litigation.

After St. Jude filed its lawsuit, a spokesman for Muddy Waters told the Wall Street Journal that “it is not unusual for a company like this to try to silence its critics, and we are always prepared to vigorously defend our right to criticize a company that puts its profits before its patients”.

The cardiac device maker drops a lawsuit on Muddy Waters and MedSec that includes allegations of false statements and manipulation of the public markets.

On Wednesday, St. Jude Medical fired back, claiming that both MedSec and Muddy Waters Capital are trying to profit from scared patients, it said in a statement. As further explained in the company’s complaint, the defendants’ financially self-interested attempts to mislead doctors and patients demonstrate a total disregard for the patients whose lives depend on their cardiac management devices.

Muddy Waters, a well-known short seller, had taken a position against St Jude and meant to use MedSec’s vulnerability report to drive St Jude’s price down. MedSec was hired as a consultant – with fees to match – and would also take a cut of the investment, in return for information on its research. The shares dipped an additional 2.6% the following day before the medical-device maker issued a denial of the firm’s claims. Beta factor, which measures the riskiness of the security, was observed as 1.17.

Providing remote automated security updates for remote transmitters, which interface with patients’ implants.

When it comes to St. Jude, Levy isn’t alone his thinking.

Submitting to FDA cybersecurity risk assessments for recent new cardiac products as well as legacy devices. LABARGE SUZANNE B is one of the largest insider shareholders in St. Jude Medical, Inc.

University of MI researchers last week said their own experiments had undermined allegations of security flaws in St. Jude’s implantable devices.