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Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against Intuitive Surgical Inc

Tuesday, 28 May 2013 06:32pm EDT 

Glancy Binkow & Goldberg LLP, representing investors of Intuitive Surgical Inc,, announced that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of a class (the Class) comprising all purchasers of Intuitive common stock between October 19, 2011 and April 18, 2013, inclusive (the Class Period). The Complaint alleges that defendants misrepresented or failed to disclose material adverse facts about the da Vinci system, including that: (1) defects in the system had caused a substantial number of patient injuries resulting in adverse incident reports prior to and during the Class Period; (2) not all of these adverse incident reports were being reported to the U.S. Food and Drug Administration (FDA), exposing the Company to significant regulatory risk and potential criminal sanctions; (3) Intuitive knew there was a substantial risk that the FDA might limit or restrict sales and marketing of the system; (4) Intuitive was engaging in sales practices that violated community standards and their own protocol agreed upon with the FDA; (5) Intuitive was exposed to substantial potential civil liability to injured and deceased patients and their families; (6) Intuitive failed to properly reserve for potential civil liability. 

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