Angry pensioners sue over $16bn Medtronic inversion losses

Dozens of angry American pensioners are suing medtech firm Medtronic saying they lost more than $16 billion on their shareholdings when the company moved its headquarters to Ireland in a so-called inversion deal.

The shareholders are suing the company in a court in Hennepin County, Minnesota, arguing that thousands of individual shareholders collectively paid as much as $3.4 billion in capital gains taxes when the company inverted because America’s tax authority treats an ...