Boston Scientific is one among several transvaginal mesh manufacturers facing product liability lawsuits. The company’s chief financial officer and six other Boston Scientific execs recently sold almost a million shares. In fact, Barrons reported Boston Scientific CFO Jeffrey Capello sold 586,205 shares, leaving just 447 still in his name. Three senior vice presidents and two executive VPs collectively sold more than 227,000 Boston Scientific shares. A company director also shed 135,645 shares.
“I would view [the selling] as a cautionary flag for investors,” said Vickers Weekly Insider Report editor David E. Coleman. “These trades are not congruent with [the insiders’] historical trading patterns.”
Did Lawsuits Spook Boston Scientific Execs Into Stock Sell-Off?
Boston Scientific faces a mounting number of lawsuits from women suffering serious complications from transvaginal mesh devices. The latest plaintiff alleged Boston Scientific’s Lynx Suprapubic Mid-Urethral Sling System caused extreme pain as well as discomfort, infections and bladder spasms. She still suffers stress urinary incontinence – an issue she got the device to fix.
The woman required a second surgery to correct damage caused by the device, causing more pain and discomfort. Boston Scientific execs failed to warn consumers about the device’s side effects, the woman’s lawyer said.
“Despite the fact that thousands of women have been injured and sued over its vaginal mesh products, Boston Scientific continues to hide important information about Lynx and the serious risks of synthetic mesh,” said Marc Burton, an attorney representing the plaintiff. “It continues to promote its mesh to doctors that need to be better informed and need to tell their patients about the real risks of synthetic vaginal mesh and the lack of clinical trials.”
Boston Scientific is currently facing tens of thousands of consolidated federal mesh lawsuits. Reports say Boston Scientific is considering settling these cases out of court. Other mesh manufacturers reportedly discussing settlements include C.R. Bard, Coloplast and Cook Medical.
The U.S. Food and Drug Administration previously warned consumers about surgical mesh implant risks. In 2011, the health agency said thousands of women reported complications due to mesh implants. Further, the FDA determined these complications were not rare.
What You Can Do
If you suffered surgical mesh implant complications, you may qualify for financial compensation. To check your eligibility to claim a cash settlement, complete your free mesh implant claim evaluation today. Once you’ve submitted your information, a lawyer will contact you shortly to discuss your case.
Lori Polemenakos is Director of Consumer Content and SEO strategist for LeadingResponse, a legal marketing company. An award-winning journalist, writer and editor based in Dallas, Texas, she's produced articles for major brands such as Match.com, Yahoo!, MSN, AOL, Xfinity, Mail.com, and edited several published books. Since 2016, she's published hundreds of articles about Social Security disability, workers' compensation, veterans' benefits, personal injury, mass tort, auto accident claims, bankruptcy, employment law and other related legal issues.