SAN DIEGO, April 29, 2013 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain purchasers of Intuitive Surgical, Inc. (ISRG) common stock over alleged violations of Federal Securities Laws by Intuitive Surgical, Inc. in connection with certain allegedly false and misleading statements made between October 19, 2011 and April 18, 2013.
If you purchased a significant amount of common stock of Intuitive Surgical, Inc. (ISRG) between October 19, 2011 and April 18, 2013 and /or if you purchased Intuitive Surgical, Inc. ISRG shares prior in October 2011 and currently hold any of those shares, you have certain options and you should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The plaintiff alleges that defendants issued between October 19, 2011 and April 18, 2013 a series of allegedly materially false and misleading statements highlighting the purported safety and effectiveness of the da Vinci Surgical System, while concomitantly announcing quarter after quarter of record financial results.
The plaintiff says that Intuitive Surgical stock traded at inflated prices between October 19, 2011 and April 18, 2013 and that while Intuitive Surgical's stock was inflated certain Intuitive Surgical's senior executives sold over 400,000 shares of their personally held Intuitive Surgical stock for proceeds of more than $200 million.
On March 5, 2013, a media report said that its review of at least ten lawsuits filed against Intuitive Surgical, Inc. during the prior 14 months and FDA adverse incident reports had uncovered that robotic surgical systems made by Intuitive Surgical, Inc. had been linked to at least 70 deaths in informal incident reports sent to the FDA since 2009. Then, on April 18, 2013, a broadcast featured an expose on the da Vinci Surgical System consisting of interviews with, among others, doctors, lawyers, and patients who have filed lawsuits against Intuitive Surgical, Inc. claiming they suffered injury while being operated on by surgeons using the da Vinci Surgical System.
Shares of Intuitive Surgical, Inc. (ISRG) declined from as high as $583.67 per share on February 1, 2013, to $466.18 per share on April 19, 2013.
The plaintiff seeks to recover damages.
Those who purchased shares of Intuitive Surgical, Inc. have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.