Shareholders Sue Intuitive Surgical, Inc. Over Adverse Events, Recalls

Shareholders of Intuitive Surgical file a derivative lawsuit, alleging that the robotic surgery company under-reported adverse events to the FDA, downgraded the severity of some of the events and concealed recalls from the federal watchdog agency. Intuitive Surgical (NSDQ:ISRG) is under fire from shareholders for allegedly under-reporting adverse events associated with its da Vinci surgical robot and concealing at least 3 recalls from the FDA. Led by the City of Birmingham Relief & Retirement System, the shareholder derivative lawsuit filed in the U.S. District Court for Northern California accuses Sunnyvale, Calif.-based Intuitive and its board and management of "failing to make a good-faith effort to ensure that Intuitive complied with applicable laws and FDA regulations governing the safety of medical devices designed to protect the health of the American public," according to court documents.

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