Robert Curry v. Hansen Medical Inc., et al.
Published: Aug. 10, 2013 | Result Date: Jul. 25, 2013 | Filing Date: Jan. 1, 1900 |Case number: 4:09-cv-5094 Settlement – $8,500,000
Court
USDC Central
Attorneys
Plaintiff
Joshua L. Crowell
(Office of the Los Angeles City Attorney)
Lionel Z. Glancy
(Glancy, Prongay & Murray LLP)
Robert V. Prongay
(Glancy, Prongay & Murray LLP)
Ex Kano S. Sams II
(Glancy, Prongay & Murray LLP)
Defendant
Charlene S. Shimada
(Morgan, Lewis & Bockius LLP)
Bruce G. Vanyo
(Katten Muchin Rosenman LLP )
John D. Pernick
(Bergeson LLP)
Christina L. Costley
(Katten, Muchin & Rosenman LLP)
Facts
A putative shareholder securities class action was filed against Hansen Medical Inc., a medical robotics maker, alleging that the company artificially inflated its revenues and misrepresented its financial condition and outlook in violation of the federal securities laws.
Contentions
PLAINTIFF'S CONTENTIONS:
Plaintiffs alleged that defendants violated the federal securities laws, including Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Securities and Exchange Commission Rules 10b5-1(a),(b), and (c), by causing or allowing the Company to distribute to the market materially false and misleading information through public statements relating to the company's financial results and technique of recognizing revenue and by carrying out a common plan, scheme, and unlawful course of conduct.
DEFENDANT'S CONTENTIONS:
Defendants denied all charges of wrongdoing or liability against them arising out of any of the claims alleged.
Result
The parties reached a settlement for $8.5 million, which the district court preliminarily approved.
For reprint rights or to order a copy of your photo:
Email
jeremy@reprintpros.com
for prices.
Direct dial: 949-702-5390