The settlement resolves allegations that the Medtronic Defendants violated the federal securities laws by making false and misleading statements regarding Medtronic during the Class Period. The definition of the Settlement Class, as preliminarily approved by the Court, is:
What is the Medtronic settlement?
As part of the settlement, Medtronic agreed to cooperate with the Department’s investigations of and litigation against other parties, and the device maker took remedial action once it learned of the wrongdoing, including terminating a sales representative and sales manager and disciplining twelve other employees involved in the alleged misconduct.
How much did Medtronic pay kickbacks to violate False Claims Act?
Minnesota-based medical device maker Medtronic USA Inc. has agreed to pay $8.1 million to resolve allegations that it violated the False Claims Act by paying kickbacks to induce a South Dakota neurosurgeon to use certain Medtronic products, the Department of Justice announced today.
Did Medtronic make payments to asfora’s restaurant?
The United States alleged that Medtronic made payments to Asfora’s restaurant at his request, knowing that Asfora owned the restaurant, but underreported those payments to CMS.
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What was the settlement of Medtronic?
The settlement was the result of an investigation by the Department of Justice’s Civil Division, the U.S. Attorney’s Office for the District of South Dakota, and HHS-OIG. As part of the settlement, Medtronic agreed to cooperate with the Department’s investigations of and litigation against other parties, and the device maker took remedial action once it learned of the wrongdoing, including terminating a sales representative and sales manager and disciplining twelve other employees involved in the alleged misconduct.
How much did Medtronic pay to the CMS?
Medtronic also agreed to pay an additional $1.11 million to resolve allegations that it violated the Open Payments Program by failing to accurately report payments it made to the neurosurgeon to the Centers for Medicare & Medicaid Services (CMS).
Did Medtronic pay kickbacks?
Minnesota-based medical device maker Medtronic USA Inc. has agreed to pay $8.1 million to resolve allegations that it violated the False Claims Act by paying kickbacks to induce a South Dakota neurosurgeon to use certain Medtronic products, the Department of Justice announced today.
Did Medtronic pay Wilson Asfora?
The settlement announced today resolves allegations that Medtronic agreed to the requests of South Dakota neurosurgeon, Wilson Asfora, M.D., to pay for social events at Carnaval Brazilian Grill, a restaurant Medtronic knew As fora owned, including scores of expensive meals.
Does Medtronic have to disclose payments to CMS?
This settlement also resolves Medtronic’s liability under CMS’ Open Payments Program, which was established by the Affordable Care Act and requires medical device manufacturers like Medtronic to disclose to CMS certain payments or other transfers of value to a physician like Asfora. The United States alleged that Medtronic made payments to Asfora’s restaurant at his request, knowing that Asfora owned the restaurant, but underreported those payments to CMS.
