March 2, 2017 (Shareholders Foundation) - An investigation on behalf of investors of Boston Scientific Corporation (NYSE:BSX) shares over potential securities laws violations by Boston Scientific 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 Boston Scientific Corporation (NYSE:BSX) concerning whether a series of statements by Boston Scientific regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Boston Scientific Corporation (NYSE:BSX) reported that its annual Total Revenue rose from over $7.47 billion in 2015 to over $8.38 billion in 2016 and that its Net Loss of $239 million in 2015 turned into a Net Income of $347 million in 2016.
Shares of Boston Scientific Corporation (NYSE:BSX) grew from $11.37 per share in October 2014 to as high as $25.65 per share on February 15, 2017
On February 23, 2017, Boston Scientific Corporation announced a voluntary removal of all Lotus Valve devices, including Lotus with Depth Guard, from global commercial and clinical sites due to reports of premature release of a pin connecting the Lotus Valve to the delivery system. Boston Scientific Corporation said it believes that the issue is caused by excess tension in the pin mechanism introduced during the manufacturing process.
Shares of Boston Scientific Corporation (NYSE:BSX) declined on February 23, 2017 to as low as $23.29 per share.