Navigation Links
Boston Scientific Provides Update on Involuntary Selling of Its Stock by Co-Founders
Date:10/13/2008

NATICK, Mass., Oct. 13 /PRNewswire-FirstCall/ -- Thursday and Friday of last week saw continued heavy trading in Boston Scientific's (NYSE: BSX) stock. As anticipated in the Company's October 9th news release, a significant portion of this trading was due to involuntary sales of shares beneficially owned by Boston Scientific's co-founders Pete Nicholas and John Abele. As of the close of the market on Friday, approximately 31 million shares in aggregate had been sold last week through involuntary sales related to collateralized loans of Mr. Nicholas and Mr. Abele, including nearly 13 million shares on Friday.

The Company believes there may be additional involuntary sales of shares beneficially owned by Mr. Nicholas and Mr. Abele over the next several weeks, but the Company estimates, based upon an assessment of the facts available to it and the price of the Company's stock at the close of business on Friday, October 10th, that the majority of the involuntary selling has already occurred.

"While these involuntary sales are certainly disappointing, it is important to keep in mind that the Company has approximately 1.5 billion shares outstanding and that even after the events of last week John Abele and I continue to collectively hold more than 90 million shares of Boston Scientific stock," said Nicholas. "Our confidence in the Company and its future is unwavering."

Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. For more information, please visit: http://www.bostonscientific.com.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Forward-looking statements may be identified by words like "anticipate," "expect," "project," "believe," "plan," "estimate," "intend" and similar words. These forward-looking statements are based on our beliefs, assumptions and estimates using information available to us at the time and are not intended to be guarantees of future events or performance. These forward-looking statements include, among other things, statements regarding potential additional automatic selling and our long-term prospects. If our underlying assumptions turn out to be incorrect, or if certain risks or uncertainties materialize, actual results could vary materially from the expectations and projections expressed or implied by our forward-looking statements. These factors, in some cases, have affected and in the future (together with other factors) may cause actual results to differ materially from those contemplated by the statements expressed in this press release. As a result, readers are cautioned not to place undue reliance on any of our forward-looking statements.

Factors that may cause such differences include, among other things: future economic, competitive, reimbursement and regulatory conditions; new product introductions; demographic trends; intellectual property; litigation; financial market conditions; and, future business decisions made by us and our competitors. All of these factors are difficult or impossible to predict accurately and many of them are beyond our control. For a further list and description of these and other important risks and uncertainties that may affect our future operations, see Part I, Item 1A - Risk Factors in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, which we may update in Part II, Item 1A - Risk Factors in Quarterly Reports on Form 10-Q we have filed or will file thereafter. We disclaim any intention or obligation to publicly update or revise any forward-looking statements to reflect any change in our expectations or in events, conditions, or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements. This cautionary statement is applicable to all forward-looking statements contained in this document.

CONTACT: Paul Donovan

508-650-8541 (office)

508-667-5165 (mobile)

Media Relations

Boston Scientific Corporation

Larry Neumann

508-650-8696 (office)

Investor Relations

Boston Scientific Corporation


'/>"/>
SOURCE Boston Scientific
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Boston Scientific to Explore Sale of Cardiac Surgery and Vascular Surgery Businesses
2. Vicus Therapeutics to Present at the 234th American Chemical Society National Meeting in Boston, MA
3. Boston Scientific Amends Credit Facility and Prepays $1 Billion on Loan
4. Boston Scientific to Participate in the Bear Stearns 20th Annual Healthcare Conference
5. Revolutionary Genomics Research Group Opens Boston Office; Provides DNA Evidence in Workers Comp Cases
6. Boston Scientific Announces Election of Ray Elliott to Its Board of Directors
7. Alliance for Medical Devices, Instrumentation and Diagnostics formed between Fraunhofer Center for Manufacturing Innovation and Boston University
8. Boston Scientific Releases Remote Monitoring Data from its Wireless LATITUDE(R) Patient Management System
9. Genzyme Begins Major Expansion of Boston Manufacturing Facility
10. New Scientists Boost Disease-based Research at Boston Biomedical Research Institute
11. Boston Scientific to Webcast Conference Call Discussing Third Quarter Financial Results
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/22/2016)... Research and Markets has announced the addition of the ... The global biomarkers market has ... The market is expected to grow at a five-year compound annual ... $50.6 billion in 2015 to $96.6 billion in 2020. ... to 2020) are discussed. As well, new products approved in 2013 ...
(Date:6/22/2016)... LOS ANGELES , June 22, 2016   ... an SNNLive Video Interview with Dr. Nader Pourhassan ... a biotechnology company focused on the clinical development and ... and prevention of HIV infection, according to the company,s ... was recorded on Tuesday, June 7 th , 2016, ...
(Date:6/22/2016)... DIEGO , June 22, 2016   ViaCyte, ... first pluripotent stem cell-derived islet replacement therapy for the ... presentations at ISSCR 2016 Annual Meeting.  ISSCR 2016, the ... to 25th at Moscone West in San Francisco.  ... of the presentations are as follows:Event: , Focus Session: ...
(Date:6/22/2016)... (PRWEB) , ... June 22, 2016 , ... ... at placing a spotlight on immigrant achievements and contributions to North Texas and ... most important contributors from the immigrant community to the civic and economic vitality ...
Breaking Biology Technology:
(Date:6/16/2016)... June 16, 2016 The ... expected to reach USD 1.83 billion by 2024, ... Research, Inc. Technological proliferation and increasing demand in ... expected to drive the market growth. ... The development of advanced multimodal techniques for ...
(Date:6/3/2016)... LONDON , June 3, 2016 /PRNewswire/ ... Transport Management) von Nepal ... ,Angebot und Lieferung hochsicherer geprägter Kennzeichen, einschließlich ... weltweit führend in der Produktion und Implementierung ... an der Ausschreibung im Januar teilgenommen, aber ...
(Date:5/24/2016)... Ampronix facilitates superior patient care by providing unparalleled technology to leaders of the medical ... premium product recently added to the range of products distributed by Ampronix. ... ... ... Ampronix News ...
Breaking Biology News(10 mins):