Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm,
today reminded investors that 43 days remain before the June 25, 2013,
lead plaintiff deadline in a securities class-action lawsuit brought
against Intuitive Surgical, Inc. (NASDAQ: ISRG) ("ISRG" or "the
company"). Those who have more than $300,000 in losses are encouraged to
contact Hagens Berman Partner Reed Kathrein to discuss moving for lead
plaintiff by emailing ISRG@hbsslaw.com
or calling (510) 725-3000.
Investors who purchased ISRG common stock between Oct. 19, 2011, and
April 18, 2013, (the "class period") and have suffered significant
losses can also reach an attorney by visiting http://www.hb-securities.com/investigations/ISRG.
On April 26, 2013, a lawsuit was filed in the U.S. District Court for
the Northern District of California, alleging that ISRG issued a series
of false or misleading statements to investors during the class period.
The suit alleges that ISRG failed to fully disclose to investors the
financial impact of safety problems with its da Vinci Surgical System,
including a number of deaths allegedly caused by the system.
On April 30, 2013, Medscape--an online medical resource for healthcare
professionals--reported that the Food and Drug Administration has begun
to investigate da Vinci following a spike in adverse event reports
(AERs) related to the system's use in surgery. According to Medscape,
the number of da Vinci AERs filed with the FDA increased by 34 percent
between 2011 and 2012.
A number of lawsuits have been filed against the company seeking damages
for injuries allegedly caused by da Vinci. ISRG's stock price suffered a
significant decline following media coverage of those suits. The filed
investor lawsuit claims that ISRG deceived investors regarding the risk
of FDA action against the company.
Investors who wish to serve as lead plaintiff in the case must move the
court no later than June 25, 2013. Any member of the putative class may
move the Court to serve as lead plaintiff through counsel of their
choice, or may choose to do nothing and remain an absent class member.
Hagens Berman reminds whistleblowers with inside information that
rewards may be available to individuals who report information leading
to a successful enforcement action by the Securities and Exchange
Commission. Under the new SEC whistleblower program, whistleblowers who
provide original information may receive rewards totaling up to 30
percent of any successful recovery made by the SEC.
Hagens Berman Sobol Shapiro LLP is an investor-rights class-action law
firm with offices in 10 cities. The Firm represents investors,
whistleblowers, workers and consumers in complex litigation. More about
the law firm and its successes can be found at www.hbsslaw.com.
The Firm's securities law blog is at http://www.meaningfuldisclosure.com.
Firmani + Associates
Mark Firmani, 206-443-9357