St. Jude Medical Pays $3.65 Million to End Investigation

Published: Jun 01, 2012

St. Jude Medical Inc. will pay $3.65 million over allegations it inflated the price of medical devices, The Wall Street Journal reports.

Little Canada-based St. Jude (NYSE: STJ) failed to apply pricing credits for pacemakers and defibrillators it sold to the departments of Defense and Veterans Affairs, the federal government alleged.

The allegations stemmed from a whistleblower suit. The whistleblowers will receive $730,000 from the settlement, the Journal reported.

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