The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from PR Newswire

Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Intuitive Surgical, Inc.

Wednesday, May 08, 2013

Ryan & Maniskas, LLP Announces Class Action Lawsuit Against Intuitive Surgical, Inc.

18:00 EDT Wednesday, May 08, 2013

WAYNE, Pa., May 8, 2013 /PRNewswire/ --  Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/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 purchasers of the securities of Intuitive Surgical, Inc. (NASDAQ: ISRG) ("Intuitive Surgical" or the "Company"), who purchased or otherwise acquired Intuitive Surgical securities between October 19, 2011, and April 18, 2013, inclusive ("Class Period"). 

(Logo: http://photos.prnewswire.com/prnh/20121112/MM11729LOGO)

For more information regarding this class action suit, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at rmaniskas@rmclasslaw.com or visit: www.rmclasslaw.com/cases/isrg.    

The complaint alleges that throughout the Class Period, defendants issued a series of materially false and misleading statements highlighting the purported safety and effectiveness of the da Vinci Surgical System, while at the same time announcing quarter after quarter of record financial results. As a result of defendants' efforts to conceal significant safety and efficacy problems with the da Vinci Surgical System and their false statements concerning the Company's business metrics and financial prospects, Intuitive stock traded at artificially inflated prices during the Class Period, reaching a Class Period high of nearly $595 per share in intraday trading by April 18, 2012.

On April 18, 2013, CNBC's Investigations, Inc. broadcast an expose on the da Vinci Surgical System consisting of interviews with patients who have filed lawsuits against Intuitive claiming they suffered injury while being operated on by surgeons using the da Vinci Surgical System. Following this news, the price of Intuitive stock fell $8.62 per share to close at $484.75 per share on April 19, 2013, down nearly 19% from its Class Period high of $595 per share.

If you are a member of the class, you may, no later than June 25, 2013, request that the Court appoint you as lead plaintiff of the class.  A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Under certain circumstances, one or more class members may together serve as "lead plaintiff."  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff.  You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.

For more information about the case or to participate online, please visit: www.rmclasslaw.com/cases/isrg, or contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218, or by e-mail at rmaniskas@rmclasslaw.com.  For more information about class action cases in general or to learn more about Ryan & Maniskas, LLP, please visit our website: www.rmclasslaw.com.

CONTACT:   

Ryan & Maniskas, LLP

Richard A. Maniskas, Esquire

995 Old Eagle School Rd., Suite 311

Wayne, PA 19087

877-316-3218

rmaniskas@rmclasslaw.com

www.rmclasslaw.com/cases/isrg

 

SOURCE Ryan & Maniskas, LLP

Products
  • Globe Unlimited

    Digital all access pass across devices. subscribe

  • The Globe and Mail Newspaper

    Newspaper delivered to your doorstep. subscribe

  • Globe2Go

    The digital replica of our newspaper. subscribe

  • Globe eBooks

    A collection of articles by the Globe. subscribe

See all Globe Products

Advertise with us

GlobeLink.ca

Your number one partner for reaching Canada's Influential Achievers. learn more

The Globe at your Workplace
Our Company
Customer Service
Globe Recognition
Mobile Apps
NEWS APP
INVESTING APP
Other Sections