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Boston Scientific Corp has said there may be additional involuntary stock sales by its founders over the next few weeks, but most of the selling has already occurred.

Boston Scientific Corp said on Monday there may be additional involuntary stock sales by the company's founders over the next few weeks, but most of the selling has already occurred.

The medical device maker's shares rose 17.5 per cent to $8.59 in morning trading on the New York Stock Exchange.

Last week, the company's co-founders, Pete Nicholas and John Abele, were forced to sell 13 million shares following the collapse of Lehman Brothers Holdings Inc.

"The company believes there may be additional involuntary sales of shares beneficially owned by Mr. Nicholas and Mr. Abele over the next several weeks, but the company estimates, based upon an assessment of the facts available to it and the price of the company's stock at the close of business on Friday, October 10th, that the majority of the involuntary selling has already occurred."

The shares closed on Friday at $7.31.

Nicholas said in a statement that while the involuntary sales were disappointing, the company has 1.5 billion shares outstanding and that even after the events of last week, he and Abele continue to collectively hold more than 90 million shares of Boston Scientific.

"Our confidence in the company and its future is unwavering," he said.

(Reporting by Toni Clarke; editing by John Wallace)