Muddy Waters shorts St. Jude on heart device hacking fears; shares drop : reuters

As it stated in reuters

Muddy Waters shorts St. Jude on heart device hacking fears; shares drop

Muddy Waters shorts St. Jude on heart device hacking fears; shares drop

The ticker and trading information for St. Jude Medical is displayed where the stock is traded on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., April 28, 2016.REUTERS/Brendan McDermidThe stock of pacemaker manufacturer St Jude Medical Inc (STJ.N) fell sharply on Thursday after short-selling firm Muddy Waters said it had placed a bet that the shares would fall because of cyber security vulnerabilities in the company's cardiac devices.St Jude, which agreed in April to sell itself for $25 billion to Abbott Laboratories (ABT.N), said the allegations were false.


in addition marketwatch

St. Jude Medical's stock drops after short seller Muddy Waters takes aim

St. Jude Medical's stock drops after short seller Muddy Waters takes aim

Shares of St. Jude Medical Inc. STJ, -5.70% slumped as much as 6% in morning trade Thursday, before paring some losses, after short-selling firm Muddy Waters Capital said it was betting against the cardiovascular medical device maker.Muddy Waters Director of Research Carson Block wrote in a research note that he believes "there is a strong possibility" that nearly half of St. Jude's revenue is about to disappear for about two years.He believes the company's pacemakers, ICDs (implantable cardioverter-defibrillatosr) and CRTs (cardiac resynchronization therapy devices) could, and should, be recalled and remediated, amid concerns over the ease in which cyber attacks could cause malfunctions.


let alone thestreet

St. Jude (STJ) Stock Drops, Muddy Waters Shorts on Security Flaw

St. Jude (STJ) Stock Drops, Muddy Waters Shorts on Security Flaw