CASES
Intuitive Surgical, Inc.
Class Period: Feb 1, 2008 to Jan 7, 2009
Lead Plaintiff Deadline: Oct 8, 2010 + Deadline passed
Summary of Case:
A securities class action has been filed against Intuitive Surgical, Inc. (ISRG) ("Intuitive" or the "Company") on behalf of all securities purchasers from February 1, 2008 through January 7, 2009, inclusive ("Class Period"), in the United States District Court for the Northern District of California.
The complaint alleges that defendants made a series of false and misleading statements and omitted material facts regarding the then-existing and even the potential market for the da Vinci robot (a robotic surgical device that is Intuitive's key product), which defendants used to inflate and falsify Intuitive's true prospects and financial results. Combined, these material misstatements and omissions caused the Company's share price to reach over $353 per share (the Class Period high), allowing defendants to reap in excess of $53 million vis-à-vis insider trading proceeds and by extracting ill-gotten payments from Intuitive (and indirectly its shareholders) that were tied to the "perceived" strength of the Company. This perception was manufactured by the defendants for purposes of reaping financial rewards to which they otherwise would not have been entitled.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.