Rather than inform the company, MedSec did a deal with a Wall Street firm to short-sell St Jude stock and then go public with the news. "While we would have preferred the opportunity to review a detailed account of the information, based on …
Rather than disclose the security vulnerabilities to the manufacturer directly, the medical device maker says that MedSec turned to Muddy Waters in order to make some money on St. Jude stock after prices plummeted due to the report. …
The two firms had a financial incentive in releasing the report: Muddy Waters had “shorted” St. Jude stock (i.e., bet that it would decline in value), and MedSec had arranged to share any profits. St. Jude’s stock price has indeed taken a …
The stock is down almost 7% on the news. The firm says it's shorting St. Jude because its pacemakers are faulty and susceptible to cyberattacks. In short, your heart could get hacked. From Muddy Waters' report (emphasis ours): "There …
St. Jude’s stock closed down nearly 4 percent on Thursday. Abbot Laboratories made a $25 billion bid for St. Jude back in April. Thanks to these vulnerabilities, that deal could be in peril, according to Bloomberg. MedSec’s CEO Justine …
On August 25, Muddy Waters investments announced it had bet against St. Jude stock in a report that described two cybersecurity vulnerabilities in popular St. Jude pacemakers. St. Jude Medical has said that research was fraudulent. …
Huge Deal in the Healthcare Space: Abbott Buys St. Jude Medical Merger arbitrage In merger arbitrage, an investor generally buys the stock of the company being acquired, short sells the relevant ratio of the acquirer’s stock if …
St. Jude stock was selling for $79.40 a share on Tuesday afternoon ... Maria Castellucci covers safety and quality topics for Modern Healthcare’s website and print edition. Castellucci is a graduate of Columbia College Chicago and started …
According to the complaint the plaintiff alleges on behalf of purchasers of common stock of St Jude Medical Inc …
Medical device maker St Jude has filed suit against a security startup that shorted its stock and publicized alleged flaws in its products for profit. Pacemaker supplier St Jude has sued both MedSec and investment research biz Muddy …