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St. Jude Medical Files Lawsuit Against Muddy Waters

St. Jude Medical Inc. filed a lawsuit against short-seller Muddy Waters, MedSec and related companies as well as three executives at the firms.

The lawsuit filed Wednesday alleges that Muddy Waters and the other defendants intentionally disseminated false and misleading information about St. Jude Medical’s implantable cardiac management devices to lower the value of St. Jude’s stock and profit from a drop in share value through short-selling, St. Paul, Minnesota-based company said in a statement.