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MARKEWICH EX REL. MEDTRONIC, INC. v. COLLINS

Civ. No. 08-92 (RHK/AJB).

622 F.Supp.2d 802 (2009)

Iris MARKEWICH, Derivatively, on behalf of MEDTRONIC, INC., Plaintiff, v. Arthur D. COLLINS, Jr., William A. Hawkins, Richard H. Anderson, David L. Calhoun, Denise M. O'Leary, Kendall J. Powell, Robert C. Pozen, Jack W. Schuler, Michael Demane, Stephen Mahle, Pat Mackin, Susan Alpert, Stephen Oesterle, and Gary Ellis, Defendants, and Medtronic, Inc., Nominal Defendant.

United States District Court, D. Minnesota.

May 11, 2009.

Attorney(s) appearing for the Case

Gregory M. Nespole, Wolf Haldenstein Adler Freeman & Herz LLP, New York, NY, Garrett D. Blanchfield, Jr., Reinhardt Wendorf & Blanchfield, St. Paul, MN, for Plaintiff.

Jeffrey B. Rudman, Wilmer Cutler Pickering Hale and Dorr LLP, Boston, MA, Michael G. Bongiorno, Wilmer Cutler Pickering Hale and Dorr LLP, New York, NY, Patrick S. Williams, Briggs and Morgan, PA, Minneapolis, MN, for Defendants and Nominal Defendant.

MEMORANDUM OPINION AND ORDER

RICHARD H. KYLE, District Judge.

INTRODUCTION

This derivative action was commenced after Medtronic Incorporated ("Medtronic") voluntarily removed its product, the Sprint Fidelis lead ("the Fidelis lead"), from the market in 2007. Plaintiff, Iris Markewich, on behalf of Medtronic, alleges that certain officers and directors of the company (hereinafter referred to collectively...

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