Oct 8, 2014

October 8, 2014 by Brad Perriello Covidien's Ev3 subsidiary logs a pair of legal wins, with the Delaware Supreme Court reversing a $250 million loss to Appriva and a Massachusetts federal judge tossing a whistleblower's lawsuit. Covidien  (NYSE: COV ) subsidiary Ev3 logged a pair of legal wins in recent weeks when the Delaware Supreme Court overturned a $250 million loss to Ev3 acquisition Appriva Medical and a federal judge in Massachusetts tossed a whistleblower's lawsuit. The Delaware Superior Court ruled in 2013 that ev3 broke its contract with Appriva Medical when it denied the $175 million milestone for Appriva's Plaato device, which it acquired in August 2002 for a $50 million cash payment plus milestones. Sign up to get our free newsletters delivered straight to your inbox Covidien in March asked the First State's Supremes to grant a new trial over the $175 million in milestones Appriva Medical alleges are owed from a 2002 acquisition. The high court reversed the superior court's ruling Sept. 30, finding that the lower court erred in erred in allowing the jury to interpret a portion of the ev3/Appriva deal and in interpreting the merger agreement to be subject to a previous, non-binding letter of intent. 1