St. Jude, Muddy Waters Battle In Court
Is it the company with medical device safety issues or the company calling them out that is putting profits before patients?
That’s the question that has St. Jude Medical locked in a legal battle with Muddy Waters Capital. The short-selling firm publicized detailed information that allegedly showed some of the medical device manufacturer’s products were vulnerable to cyber-security attacks.
The Star Tribune reports that St. Jude is suing Muddy Waters for defamation and several others for “civil conspiracy.” The company says Muddy Waters spread false information about medical device security. Muddy Waters maintains that it is exercising its First Amendment right to publicize truth information about the risks posed by using St. Jude devices.
The fighting comes as St. Jude’s shareholders vote on an acquisition by Abbott Laboratories on Wednesday afternoon.
The full story can be read here.