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Guidant Lawsuit Money Set Aside

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Boston Scientific announced earlier this month that it has set aside $381 million in anticipation of lawsuits stemming from faulty Guidant defibrillators and pacemakers. Boston Sci inherited Guidant’s legal problems when it bought the company earlier this year for $27 billion.

Included in the fallout are about 72 product liability class action lawsuits and about 477 individual lawsuits. The suits are pending in various U.S. state and federal jurisdictions and allege personal injuries associated with defibrillators or pacemaker recalls.

An additional nine lawsuits are pending in Canada, six of which are class actions and three are individual.