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Boston Scientific Announces Favorable Court Ruling Dismissing Securities Fraud Case

Mon, 08/08/2011 - 1:44pm
Boston Scientific

NATICK, Mass., Aug. 8, 2011 /PRNewswire/ -- Boston Scientific Corporation (NYSE: BSX) today announces the U.S. Court of Appeals for the First Circuit has affirmed the dismissal of a securities fraud case in connection with the recall of the Company's TAXUS® Express2 Paclitaxel-Eluting Coronary Stent System in 2004.  The case, which had been filed by the Mississippi Public Employees' Retirement System, had previously been dismissed by the U.S. District Court for the District of Massachusetts.

"We are pleased with the Court's decision," said Tim Pratt, Executive Vice President, Chief Administrative Officer and General Counsel for Boston Scientific.  "The Company has made significant progress in reducing its legal exposure in the last 24 months and will continue to vigorously defend itself against allegations of this type."

About Boston Scientific

Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties.  For more information, please visit: www.bostonscientific.com.  

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.  Forward-looking statements may be identified by words like "anticipate," "expect," "project," "believe," "plan," "estimate," "intend" and similar words.  These forward-looking statements are based on our beliefs, assumptions and estimates using information available to us at the time and are not intended to be guarantees of future events or performance.  These forward-looking statements include, among other things, statements regarding litigation outcome, our product and litigation strategy, product performance and competitive offerings.  If our underlying assumptions turn out to be incorrect, or if certain risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed or implied by our forward-looking statements.  These factors, in some cases, have affected and in the future (together with other factors) could affect our ability to implement our business strategy and may cause actual results to differ materially from those contemplated by the statements expressed in this press release.  As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements.  

Factors that may cause such differences include, among other things: future economic, competitive, reimbursement and regulatory conditions; new product introductions; demographic trends; intellectual property; litigation; financial market conditions; and future business decisions made by us and our competitors.  All of these factors are difficult or impossible to predict accurately and many of them are beyond our control.  For a further list and description of these and other important risks and uncertainties that may affect our future operations, see Part I, Item 1A – Risk Factors in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, which we may update in Part II, Item 1A – Risk Factors in Quarterly Reports on Form 10-Q we have filed or will file hereafter.  We disclaim any intention or obligation to publicly update or revise any forward-looking statements to reflect any change in our expectations or in events, conditions or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements.  This cautionary statement is applicable to all forward-looking statements contained in this document.

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