Boston Scientific ERISA Litigation

In this class action case, plaintiffs alleged Boston Scientific breached its fiduciary duty to its 401(k) Retirement Savings Plan by selecting company stock as an investment despite knowledge the price was artificially inflated. David Ross, supported by a team in Chicago, submitted an affidavit on behalf of the defendants who opposed class certification. Judge Joseph Tauro ruled in favor of the defendants, denied class certification, and dismissed the Boston Scientific ERISA litigation because the plaintiffs sold substantially more shares than they purchased during the class period and benefited from the alleged artificial inflation of the Company’s stock price. Our client was successfully represented by Stuart Baskin, John Gueli, and Kirsten Cunha of Shearman & Sterling LLP.