Press release from Business Wire
The Briscoe Law Firm, PLLC and Powers Taylor, LLP Announce the Investigation of Possible Breaches of Fiduciary Duties by the Officers and Directors of Intuitive Surgical, Inc.
Wednesday, August 11, 2010
The Briscoe Law Firm, PLLC and Powers Taylor, LLP Announce the Investigation of Possible Breaches of Fiduciary Duties by the Officers and Directors of Intuitive Surgical, Inc.08:00 EDT Wednesday, August 11, 2010 DALLAS (Business Wire) -- The Briscoe Law Firm, PLLC, founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the law firm of Powers Taylor, LLP are investigating potential legal claims available to purchasers of Intuitive Surgical, Inc. (“ISRG” or “Company”) (NASDAQ: ISRG) shares during the period of February 1, 2008 through January 7, 2009 (“class period”). It is alleged that during the class period, ISRG and certain of its officers and directors violated the Securities Exchange Act of 1934 by failing to disclose material information regarding the true nature of the Company's financial condition and allegedly overstating the demand for one of the Company's key products, the da Vinci robot. As a result, it is alleged that during the class period the Company's shares reached an artificially inflated value of $353 per share but subsequently tumbled to a low of $93.29 in January 2009 after the Company released its fourth quarter 2008 sales numbers revealing that the Company's sales had fallen dramatically. In addition, it is alleged that various ISRG insiders, including members of ISRG's senior management and board, received millions in incentive awards and bonuses during this same time period. If you currently own or purchased ISRG shares and would like additional information regarding this investigation, or if you have information regarding the allegations against the company, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org, or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you. The Briscoe Law Firm is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters. Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.