Johnson & Johnson is seeking $5.5 billion in legal damages from Boston Scientific and Abbott Laboratories for "intentionally and maliciously" interfering with its failed bid for medical device maker Guidant earlier this year.
In a lawsuit filed Monday in U.S. District Court in New York, J&J said Guidant violated terms of their merger agreement by giving Abbott a detailed look at the books of the Indianapolis device maker's coronary stent and catheter business.
Johnson & Johnson claims Guidant acted in bad faith by releasing confidential information to Abbott, a step that "surreptitiously facilitated an alternative proposal" from Boston Scientific.
More at the excellent Star-Ledger.
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