New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 21, 2014
12:45 EDTCYBXCyberonics discloses qui tam action unsealed, U.S. declined to intervene
Cyberonics disclosed in a regulatory filing that on December 5, 2013, after the United States declined to intervene, the U.S. District Court for the District of Massachusetts unsealed a qui tam action, or a lawsuit brought by a private individual purporting to act on behalf of the government, filed against the company under the Federal False Claims Act and the false claims statutes of 28 different states and the District of Columbia. The qui tam action was filed under seal in February 2013 by former employee Andrew Hagerty. Previously, in August 2012, Hagerty filed a related lawsuit in the same court and then voluntarily dismissed that lawsuit immediately prior to filing this qui tam action. In addition to his claims for wrongful and retaliatory discharge stated in the first lawsuit, the qui tam lawsuit alleges that the company violated the FCA and various state false claims statutes while marketing its VNS Therapy System and seeks an unspecified amount consisting of treble damages, civil penalties, and attorneys’ fees and expenses, Cyberonics stated.
News For CYBX From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
April 24, 2015
06:59 EDTCYBXTulane University to hold a conference
Subscribe for More Information
April 14, 2015
11:31 EDTCYBXSorin-Cyberonics merger receives US antitrust approval
Sorin S.p.A. and Cyberonics announced that the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, relating to their pending merger, has expired, thereby satisfying one of the conditions required to finalize the merger transaction. As previously announced, Sorin and Cyberonics entered into a merger agreement pursuant to which the two companies will combine in an all-stock transaction. The proposed combination of Sorin and Cyberonics will create a new premier global medical technology company. The transaction, unanimously approved by the boards of directors of both companies, is currently expected to be completed by the end of the third calendar quarter of 2015. The transaction is subject to approval by both Sorin and Cyberonics shareholders, the receipt of required regulatory clearances, and other customary closing conditions.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the disclaimer & terms of use