GDT Guidant Corp

Scott + Scott, LLC Filed the First Securities Action on June 24, 2005, and Announces Class Period for Securities Class Action Against Guidant Corporation Expanded to June 23, 2005 On July 1, 2005, the FDA Stated That a Malfunction in Some Guidant Defibrillators Could Cause Death COLCHESTER, Conn., July 6 /PRNewswire/ -- Scott + Scott, LLC announces that the former Class Period for the shareholder class action lawsuit it filed against Guidant Corporation (NYSE:GDT) has been expanded and now includes securities purchases between December 15, 2004, and June 23, 2005. The deadline for filing lead plaintiff petitions remains August 23, 2005. For a summary of the claims against the defendants, see http://biz.yahoo.com/prnews/050624/nyf078.html?.v=12. On June 24, 2005, Guidant announced that it would voluntarily advise physicians about important safety information regarding a number of its medical devices. Guidant further stated that the FDA may classify Guidant's actions in this regard as a recall. Guidant also stated that as a precautionary measure, physicians should discontinue implants of the suspect devices pending further notice. On this news, the shares fell $4.70 per share (6.85%), to close at $63.90 per share on unusually heavy volume. The Complaint alleges that insiders at Guidant were motivated to commit this fraudulent scheme in order, among other reasons, for them to sell their personally held Guidant stock at artificially inflated prices. Guidant insiders sold a total of 894,081 of their personally held shares for gross proceeds of $65,703,975.00. If you would like information about Scott + Scott's original complaint or would like to discuss this action with an attorney, please contact the firm at 800/332-2259. You may also speak with attorney Neil Rothstein at (cell phone 619/251-0887) or attorney Amy K. Saba at (800/332-2259). Scott + Scott has offices in Connecticut, Ohio and California. The firm (http://www.scott-scott.com/) specializes in complex litigation including securities fraud and represents foundations, individuals, corporations and pension funds worldwide. DATASOURCE: Scott + Scott, LLC CONTACT: Neil Rothstein, cell phone +1-619-251-0887, , or Amy K. Saba, 1-800-332-2259, , both of Scott + Scott, LLC Web Site: http://www.scott-scott.com/ http://biz.yahoo.com/prnews/050624/nyf078.html?.v=12

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