July 17, 2014 by Brad Perriello
A federal appeals court upholds a lower court’s decision to dismiss a shareholders lawsuit accusing Intuitive Surgical and its management of misleading investors.
Intuitive Surgical (NSDQ:ISRG) chalked up a win yesterday after a federal appeals court upheld the dismissal of a shareholders lawsuit accusing it and its management of misleading investors.
A group of shareholders, led by the Police Retirement Systems of St. Louis, argued that ISRG and its leadership issued misleading statements about the state of the company and the effects of the economic recession. But Judge Lucy Koh of the U.S. District Court for Northern California dismissed the complaints, ruling that the so-called misleading statements were either protected under Safe Harbor, general expressions of “corporate optimism,” or not false.
