Complaint in the United States Court for the District of Minnesota


Case number: CASE 0:16-cv-03002-DWF-BRT

St. Jude Medical, Inc. (“St. Jude” or “Plaintiff”) filed suit against Muddy Waters Consulting LLC, Muddy Waters Capital LLC, Carson C. Block, MedSec Holdings Ltd., MedSec LLC, Justine Bone and Dr. Hemal M. Nayak (collectively “Defendants”).

In the suit, Plaintiff St. Jude alleges that Defendants’ intentional, willful and malicious scheme to manipulate the securities markets for their own financial windfall through an unethical and unlawful scheme premised upon falsehoods and misleading statements initially contained in an August 25, 2016 Muddy Waters report concerning St. Jude’s implantable cardiac rhythm management devices (also referred to as “CRM Devices”).

Plaintiff is seeking the following relief.

  • Judgment in favor of St. Jude and against each of the Defendants.
  • Disgorgement of profits made by Defendants.
  • Award St. Jude appropriate equitable or injunctive relief.
  • Award St. Jude damages to be determined at trial.
  • Award St. Jude treble damages for violations of 15 U.S.C. § 1125.
  • Award St. Jude reasonable attorneys’ fees and costs.
  • Any other relief this Court deems equitable and just.

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Last Updated: 2016-09-09

St Jude Files Suit- St. Jude v. Muddy Waters Consulting LLC and Others
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