Securities
Fraud
Failure to Disclose
Police Retirement Systems of St. Louis, individually and on behalf of all others similarly situated v. Intuitive Surgical Inc., et al.
Published: Jul. 7, 2012 | Result Date: May 22, 2012 | Filing Date: Jan. 1, 1900 |Case number: 5:2010-cv-03451 Bench Decision – Dismissal
Facts
Plaintiff sued Defendants, alleging that Defendants failed to disclose to investors the declining profit rates for their medical and surgical products. Defendants moved to dismiss the second amended complaint.
Result
Defendants motion to dismiss the second amended complaint was granted with prejudice because the allegations failed to establish scienter, and instead involved mere corporate optimism and forward-looking statements protected by the PSLRA's Safe Harbor provision.
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