STEVENSON, Md., May 8, 2013 (GLOBE NEWSWIRE) -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of purchasers of Intuitive Surgical, Inc. ("Intuitive" or the "Company") (Nasdaq:ISRG) common stock during the period between October 19, 2011 and April 18, 2013, inclusive (the "Class Period").
If you have suffered a net loss from investment in Intuitive Surgical, Inc. common stock purchased on or after October 19, 2011, and held through any of the negative announcements or news releases described below, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at firstname.lastname@example.org, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than June 25, 2013 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants' failure to disclose during the Class Period that defects in the da Vinci Surgical System had caused a substantial number of patient injuries resulting in adverse incident reports, some of which adverse incident reports were not reported to the U.S. Food and Drug Administration ("FDA"), and that Intuitive was engaging in sales practices that violated community standards and their own protocol agreed upon with the FDA, thus exposing the Company to regulatory risks and potential criminal sanctions and the risk that the FDA might limit or restrict sales and marketing of the da Vinci Surgical System. According to the Complaint, following a February 28, 2013 letter from the FDA to surgeons participating in the FDA-sponsored Medical Product Safety Network, asking them to provide information about medical complications associated with use of the da Vinci Surgical System, a March 5, 2013 Bloomberg article that reported that robotic surgical systems made by Intuitive had been linked to at least 70 deaths in informal incident reports sent to the FDA since 2009, a March 14, 2013 statement by the president of the American Congress of Obstetricians and Gynecologists contending that robotic surgery is not the only or the best minimally invasive approach for certain medical procedures, and an April 18, 2013 broadcast by CNBC's Investigations, Inc. on the da Vinci Surgical System that consisted of interviews with doctors and with lawyers and patients who have filed lawsuits against Intuitive claiming injury from surgery using the da Vinci Surgical System, the value of Intuitive shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven Brower Piven, A Professional Corporation Stevenson, Maryland 410/415-6616 email@example.com