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May 6, 2014
08:36 EDTNUVANuVasive announces favorable resolution of patent lawsuit against Cadwell Labs
NuVasive announced that it reached a settlement agreement with Cadwell Laboratories in a lawsuit involving NuVasive's patented neuromonitoring technology. NuVasive filed the lawsuit in December 2012 asserting that Cadwell infringed on the company's patented neuromonitoring technology, including the integration of nerve monitoring technology during lateral approach spine surgery. As part of the settlement reached between the parties, Cadwell has agreed to exit the lateral spine surgery market, and to no longer provide products, services, or support for lateral approach spine fusion surgeries. In addition, certain of Cadwell's future products may be required to openly attribute intellectual property ownership to NuVasive and may require a 5% fee paid to NuVasive.
News For NUVA From The Last 14 Days
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July 28, 2015
16:31 EDTNUVANuVasive reaches definitive agreement with U.S. DOJ
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16:20 EDTNUVANuVasive raises 2015 EPS outlook to $1.17 from $1.10, consensus $1.12
Sees 2015 revenue $810M, consensus $812.22M.
16:19 EDTNUVANuVasive reports Q2 EPS 31c, consensus 25c
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16:18 EDTNUVANuVasive enters $13.5M settlement of Justice Department
NuVasive announced that it has reached a definitive settlement with the U.S. Department of Justice related to the subpoena issued to the company by the Office of Inspector General of the Department of Health and Human Services in 2013. NuVasive admits no wrongdoing as part of the settlement. On April 29, the company announced that it had reached an agreement in principle to settle the investigation with the DOJ. The company has now entered into a definitive settlement agreement with the United States, acting through DOJ and on behalf of OIG, the Defense Health Agency, the Office of Personnel Management, and the U.S. Department of Veteran Affairs. Under the terms of the settlement agreement, the company will pay $13.5M, plus fees and accrued interest. The settlement is neither an admission of liability or wrongdoing by the company nor a concession by the United States that its claims are not well founded. The company was not required to enter into a corporate integrity agreement by the OIG as part of the settlement.
15:21 EDTNUVANotable companies reporting after market close
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