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Pomerantz Law Firm Files Class Action Against Intuitive Surgical Inc And Certain Officers


Saturday, 25 May 2013 07:31pm EDT 

Pomerantz Grossman Hufford Dahlstrom & Gross LLP announced that it has filed a class action lawsuit against Intuitive Surgical Inc and certain of its officers. The class action, filed in United States District Court, Northern District of California, and docketed under 13-CV-002365, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired securities of Intuitive between October 19, 2011 and April 18, 2013 both dates inclusive (the Class Period). 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 Company's da Vinci Surgical System, while concomitantly 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 - which were exacerbated by the Company's questionable sales practices - and 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. 

Company Quote

531.96
8.45 +1.61%
19 Dec 2014