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How Will St. Jude Medical (STJ) Stock React to Filing Lawsuit Against Muddy Waters, MedSec?

NEW YORK (TheStreet) -- St. Jude Medical (STJ) brought legal action on Wednesday against research firms Muddy Waters and MedSec for "false statements, false advertising, conspiracy and the related manipulation of public markets" in connection with the company's cardiac management devices.

The cardiac device manufacturer alleges that the firms intentionally released false and misleading information about the company's products to negatively impact St. Jude's stock and to profit from a share value drop through short-selling, according to a statement.

Last month...