NEW YORK, Sept. 21, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is reminding investors that class action lawsuits have been initiated on behalf of Medtronic PLC shareholders MDT and Palantir Technologies, Inc. PLTR. Shareholders have until the deadlines below to petition the court to appear as lead plaintiffs. For more information on each case, see the link provided.

Medtronic SPS MDT

Class Period: June 8, 2019 – May 25, 2022

Lead Plaintiff Deadline: November 7, 2022

Medtronic is a medical technology company. The products include the MiniMed insulin pump system for the treatment of diabetes. Systems include the MiniMed 600 series models and the MiniMed 780G model. Medtronic is currently seeking regulatory approval for the MiniMed 780G model, which uses an advanced hybrid closed-loop system. During the class-action period, Medtronic repeatedly assured investors that the MiniMed 780G model was “on track” for U.S. Food and Drug Administration (“FDA”) approval and would give Medtronic the advantage it needed to obtain a to close the growing gap with its competitors in the diabetes market.

Medtronic has made these statements despite known issues with the MiniMed 600 series models. In fact, in November 2019, the company issued a warning that certain MiniMed 600 series insulin pumps could have damaged pump retaining rings that could cause the system to release too much insulin, and instructed customers with damaged rings to contact them for replacements contact company. On February 7, 2020, the FDA classified Medtronic’s November 2019 notice as a Class I recall – the most serious type of recall.

Problems with the MiniMed 600 series surfaced in October 2021 when the company expanded its recall to Everyone MiniMed Insulin Pump Systems Model 630G and 670G – whether actual damage to the retaining ring was visible or not. Despite these serious problems with the 600 series, Medtronic assured investors that they…