The former CEO of Magellan Diagnostics pleaded guilty on Monday to a criminal charge related to a malfunction in the company's lead-testing devices that produced inaccurately low results for tens of thousands of patients.

These convictions should make one thing clear: corporate fraud that puts public health at risk will not go unpunished,” United States Attorney Leah Foley said in a statement.

The former CEO and two other high-ranking executives for Massachusetts-based Magellan Diagnostics have pleaded guilty to criminal charges related to the company’s lead-testing devices that produced inaccurately low results for tens of thousands of patients,

Magellan Diagnostics' former chief operating officer has agreed to plead guilty to U.S. charges that he helped distribute the company's lead-testing devices without reporting a malfunction that caused the products to generate inaccurately low results.