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Home / Opinion Digests / Business Law / 4th Cir.: Medical reimbursement scheme was material omission (access required)

4th Cir.: Medical reimbursement scheme was material omission (access required)

Investors’ complaint against a medical device company sufficiently alleged violations of § 10(b) of the Securities Exchange Act, claiming that the company’s officers knowingly misrepresented material facts constituting a fraud on the market. Background Appellee TranS1 received approval in 2004 to sell its AxiaLIF system, a medical device for spinal surgery. TranS1 derives its revenues almost entirely ...