Pittsburgh Law Office of Alfred G. Yates Jr., PC Announces Class Action Suit against Boston Scientific Corporation - BSX

Business Wire, Oct 27, 2005

PITTSBURGH -- Notice is hereby given by the Law Office of Alfred G. Yates Jr., PC that a class action lawsuit has been commenced in the United States District Court for the District of Massachusetts on behalf of all securities purchasers of Boston Scientific Corporation (NYSE:BSX)(Boston Scientific" or the "Company") between March 31, 2003 and August 23, 2005, inclusive (the "Class Period").

If you wish to serve as lead plaintiff, you must move the Court no later than November 21, 2005. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Alfred G. Yates, Jr. at 1-800-391-5164 or via e-mail at yateslaw@aol.com. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint filed today alleges that during the Class Period, Boston Scientific and certain individual defendants violated provisions of the Securities and Exchange Act of 1934, causing its stock to trade at artificially inflated levels. The complaint alleges that Boston Scientific provided highly explicit false and misleading assurances of the Company's ability to satisfy FDA regulations governing its medical device product quality, as well as affirmative representations as to the Company's knowledge and expertise regarding design, development, marketing approval and sales of its medical devices. The complaint further alleges over $400 million sold in insider trading.

According to the complaint, on August 23, 2005, based on the cumulative impact of three separate FDA Warning Letters, investors learned of defendants' broad-based concealment of its broken quality program and the risks the Company faced. As a result, Boston Scientific's stock price dropped $1.23, or 4.5% to $25.92, on volume of 15.8 million shares -- nearly $19.89 or 43.4% from its Class Period high of $45.81 on April 5, 2004.