Press release from Business Wire
Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against Intuitive Surgical, Inc.
Tuesday, May 28, 2013
Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against Intuitive Surgical, Inc.18:32 EDT Tuesday, May 28, 2013
LOS ANGELES (Business Wire) -- Glancy Binkow & Goldberg LLP, representing investors of Intuitive Surgical, Inc. (“Intuitive” or the “Company”) (NASDAQ:ISRG), announces that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of a class (the “Class”) comprising all purchasers of Intuitive common stock between October 19, 2011 and April 18, 2013, inclusive (the “Class Period”).
A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW & GOLDBERG LLP. PLEASE CONTACT US TOLL-FREE AT (888) 773-9224, OR AT (212) 682-5340, OR BY EMAIL TO SHAREHOLDERS@GLANCYLAW.COM. IF YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR MAILING ADDRESS, TELEPHONE NUMBER AND NUMBER OF SHARES PURCHASED.
Intuitive designs, manufactures and markets da Vinci robotic surgical systems. The Complaint alleges that defendants misrepresented or failed to disclose material adverse facts about the da Vinci system, including that: (1) defects in the system had caused a substantial number of patient injuries resulting in adverse incident reports prior to and during the Class Period; (2) not all of these adverse incident reports were being reported to the U.S. Food and Drug Administration (FDA), exposing the Company to significant regulatory risk and potential criminal sanctions; (3) Intuitive knew there was a substantial risk that the FDA might limit or restrict sales and marketing of the system; (4) Intuitive was engaging in sales practices that violated community standards and their own protocol agreed upon with the FDA; (5) Intuitive was exposed to substantial potential civil liability to injured and deceased patients and their families; (6) Intuitive failed to properly reserve for potential civil liability; and (7) as a result, defendants lacked a reasonable basis to make positive statements about the safety and effectiveness of the da Vinci Surgical System, the Company's business metrics and its Class Period financial results and outlook.
If you are a member of the Class described above you may move the Court no later than June 25, 2013 to serve as lead plaintiff; however, you must meet certain legal requirements. If you wish to learn more, or if you purchased Intuitive stock prior to the Class Period, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll Free at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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Glancy Binkow & Goldberg LLP, Los Angeles, CA
Glancy Binkow & Goldberg LLP, New York, NY
(212) 682-5340 or (888) 773-9224