Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm,
today notified investors of a pending June 25, 2013, deadline to file
for lead plaintiff in a securities class-action lawsuit brought again
Intuitive Surgical, Inc. (NASDAQ: ISRG) ("ISRG" or "the company"). The
firm encourages investors with more than $500,000 in losses to contact
Hagens Berman Partner Reed Kathrein to discuss moving for lead plaintiff
by emailing [email protected] or
calling (510) 725-3000.
Investors who purchased ISRG common stock between Oct. 19, 2011, and
April 18, 2013, (the "class period") and have more than $500,000 in
losses can also reach an attorney by visiting http://www.hb-securities.com/investigations/ISRG.
The lawsuit, filed in U.S. District Court for the Northern District of
California on April 26, 2013, alleges that ISRG issued a series of false
or misleading statements to investors during the class period. The suit
alleges that ISRG failed to fully disclose to investors the financial
impact of safety problems with its da Vinci Surgical System, including a
number of deaths allegedly caused by the system.
A number of lawsuits have been filed against the company seeking damages
for injuries caused by da Vinci. Following media coverage of those
suits, ISRG's stock price suffered a significant decline. The filed
investor lawsuit claims that ISRG deceived investors regarding the risk
of Food and Drug Administration action against the company.
"We are concerned that ISRG failed to come clean with investors,
especially in light of a significant number of deaths reported to the
FDA," said Mr. Kathrein. "We are concerned that the company may be
exposed to significant financial losses, either due to potential FDA
restrictions on da Vinci or damages in pending personal injury lawsuits."
Investors who wish to serve as lead plaintiff in the case must move the
court no later than June 25, 2013. Any member of the putative class may
move the Court to serve as lead plaintiff through counsel of their
choice, or may choose to do nothing and remain an absent class member.
Hagens Berman reminds whistleblowers with inside information that
rewards may be available to individuals who report information leading
to a successful enforcement action by the Securities and Exchange
Commission. Under the new SEC whistleblower program, whistleblowers who
provide original information may receive rewards totaling up to 30
percent of any successful recovery made by the SEC.
Hagens Berman Sobol Shapiro LLP is an investor-rights class-action law
firm with offices in 10 cities. The Firm represents investors,
whistleblowers, workers and consumers in complex litigation. More about
the law firm and its successes can be found at www.hbsslaw.com.
The Firm's securities law blog is at http://www.meaningfuldisclosure.com.
Firmani + Associates
Mark Firmani, 206-443 9357