• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

  • Latest News
  • Technologies
    • Artificial Intelligence (AI)
    • Cardiovascular
    • Orthopedics
    • Neurological
    • Diabetes
    • Surgical Robotics
  • Business & Finance
    • Wall Street Beat
    • Earnings Reports
    • Funding Roundup
    • Mergers & Acquisitions
    • Initial Public Offering (IPO)
    • Legal News
    • Personnel Moves
    • Medtech 100 Stock Index
  • Regulatory & Compliance
    • Food & Drug Administration (FDA)
    • Recalls
    • 510(k)
    • Pre-Market Approval (PMA)
    • MDSAP
    • Clinical Trials
  • Special Content
    • Special Reports
    • In-Depth Coverage
    • DeviceTalks
  • Podcasts
    • MassDevice Fast Five
    • DeviceTalks Weekly
    • OEM Talks
      • AbbottTalks
      • Boston ScientificTalks
      • DeviceTalks AI
      • IntuitiveTalks
      • MedtechWOMEN Talks
      • MedtronicTalks
      • Neuro Innovation Talks
      • Ortho Innovation Talks
      • Structural Heart Talks
      • StrykerTalks
  • Resources
    • About MassDevice
    • DeviceTalks
    • Newsletter Signup
    • Leadership in Medtech
    • Manufacturers & Suppliers Search
    • MedTech100 Index
    • Videos
    • Webinars
    • Whitepapers
    • Voices
Home » Intuitive Surgical settles shareholder suits for $12m

Intuitive Surgical settles shareholder suits for $12m

February 5, 2018 By Brad Perriello

Intuitive SurgicalIntuitive Surgical (NSDQ:ISRG) last week revealed a nearly $12 million legal settlement covering a slew of cases brought by investors alleging that the robot-assisted surgery pioneer misled them.

In a regulatory filing, Sunnyvale, Calif.-based Intuitive said it struck a deal in September 2016 to settle the cases filed by some five shareholders in state and federal court, dating back to 2013. Ratified more than a year later in one of the cases, by the end of last year the settlement had been put in place across the other suits.

The settlement prompted Intuitive to take an $11.7 million pre-tax charge for 2017 to cover the settlements costs, according to the filing.

Intuitive is also facing a spate of product liability claims, including a 55-patient, multi-state lawsuit brought in Missouri and about 43 individual suits in state and federal courts. Those lawsuits allege that patients were injured due to defects in the company’s flagship da Vinci robot-assisted surgery platform or because the company’s surgical training program was inadequate. The plaintiffs in the product liability cases also accuse Intuitive of failing to adequately warn about the risks of surgery using the da Vinci system, according to the filing.

“After an extended confidential mediation process with legal counsel for many of the claimants covered by the tolling agreements, the company determined during 2014 that, while it denies any and all liability, in light of the costs and risks of litigation, settlement of certain claims was appropriate,” Intuitive said in filing, adding that for the just-ended year that meant a pre-tax charge of $16.3 million “to reflect the estimated cost of settling a number of the product liability claims covered by the tolling agreements.”

Intuitive also said it included $12.8 million in accrued liabilities on its balance sheet for 2017 related to product liability legislation.

Filed Under: Legal News, Surgical Robotics, Wall Street Beat Tagged With: Intuitive Surgical

More recent news

  • Neuronetics names Steven Pfanstiel chief financial officer
  • Medtronic to distribute Future Medical’s peripheral guidewires
  • AtriCure completes enrollment in stroke prevention trial
  • GT Medical raises $53M to support brain tumor treatment
  • Imperative Care, Proximie partner to develop surgical robot to treat stroke

Primary Sidebar

“md
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest med device regulatory, business and technology news.

DeviceTalks Weekly

See More >

MEDTECH 100 Stock INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
MDO ad

Footer

MASSDEVICE MEDICAL NETWORK

DeviceTalks
Drug Delivery Business News
Medical Design & Outsourcing
Medical Tubing + Extrusion
Drug Discovery & Development
Pharmaceutical Processing World
MedTech 100 Index
R&D World
Medical Design Sourcing

DeviceTalks Webinars, Podcasts, & Discussions

Attend our Monthly Webinars
Listen to our Weekly Podcasts
Join our DeviceTalks Tuesdays Discussion

MASSDEVICE

Subscribe to MassDevice E-Newsletter
Advertise with us
About
Contact us

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy