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Nelson N. Stone, MD, v. Bard

This article was originally published in The Gray Sheet

Executive Summary

Company will file post-trial motions to set aside Manhattan district court's Dec. 19 ruling that it should pay $23 mil. for breach of contract and $35 mil. for fraud to urologists who created ProSeed, a brachytherapy seed practice management and training group. The plaintiffs claim that following its purchase of ProSeed in 1998, Bard failed "to use appropriate efforts to promote" growth of the business, "failed to pay consideration due under the agreement and induced the sale of the company by misrepresentation," Bard discloses in an 8-K SEC filing. If the verdict is not set aside or the award amount reduced, Bard plans to appeal. The firm expects the post-trial motions to be decided in Q1...
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