Former Guidant Corp. Shareholders Seek to File Amended Complaint in Securities Lawsuit

NEW YORK, May 6, 2008 (Lawfuel) — Nationwide class-action law
firm Scott+Scott LLP ( announced today that the
plaintiffs and former shareholders of Guidant Corporation (“Guidant,”
now part of Boston Scientific Corporation (NYSE:BSX)) in the In re:
Guidant Corporation Securities Litigation (Case No. 05-1658), pending
in the United States District Court, Southern District of Indiana, have
filed a motion requesting that the Court reconsider its recent order
dismissing the investor class’s claims. The plaintiffs’ motion to file
another complaint and continue with the class-action lawsuit is based
on new information that has come to light as to certain Guidant
executives’ knowledge of safety concerns with Guidant defibrillators
between December 15, 2004 through October 18, 2005, inclusive (the
“Class Period”).

The lawsuit centers on investor claims that Guidant executives entered
into a scheme that artificially inflated the price of Guidant’s stock
and entered into a merger agreement with Johnson & Johnson that was
predicated on false representations about the safety of Guidant’s
medical devices. The false statements and omissions related to
potentially deadly defects in thousands of Guidant’s implantable
medical devices, including its defibrillators and pacemakers. The
lawsuit further claims that these misrepresentations enabled company
insiders to reap enormous personal gains on the sale of their Guidant
stock at artificially inflated prices.

The suit seeks class-action status for those investors who bought
Guidant stock during the Class Period. Guidant stock purchasers who
wish to discuss this action or have questions concerning this notice or
their rights may contact Scott+Scott LLP at [email protected],
(800) 404-7770, (860) 537-5537, or by visiting the Scott+Scott website,, for more information.

Scott+Scott LLP is a law firm with significant experience in
prosecuting investor class actions. The firm currently is lead counsel
litigating major securities, antitrust and employee retirement plan
class actions throughout the United States. The firm represents pension
funds, foundations, individuals and other entities worldwide.

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