Da Vinci Surgical Robot Maker Reserves $67M To Settle Product Liability Claims
SUNNYVALE, Calif. — (Mealey's) Intuitive Surgical Inc. on April 8 announced that it has taken a $67 million charge against 2014 earnings to settle an unspecified number of product liability claims involving the company’s da Vinci surgical robot. In a press release, Intuitive said the $67 million is the estimated cost of settling claims alleging complications from surgeries performed with certain versions of the Monopolar Curved Scissors (MCS) instruments that were recalled in 2013 and with a first-generation MCS tip cover that was withdrawn in 2012. It said the estimated settlement amounts apply to legal claims that were tolled, the oldest of which dates back to October 2012.
Comment Reply
http://www.lexisnexis.com/legalnewsroom/litigation/b/litigation-blog/archive/2014/04/09/da-vinci-surgical-robot-maker-reserves-67m-to-settle-product-liability-claims.aspx
04-09-2014 | 03:07 PM
Author: Tom Moylan
Da Vinci Surgical Robot Maker Reserves $67M To Settle Product Liability Claims
SUNNYVALE, Calif. — (Mealey's) Intuitive Surgical Inc. on April 8 announced that it has taken a $67 million charge against 2014 earnings to settle an unspecified number of product liability claims involving the company’s da Vinci surgical robot. In a press release, Intuitive said the $67 million is the estimated cost of settling claims alleging complications from surgeries performed with certain versions of the Monopolar Curved Scissors (MCS) instruments that were recalled in 2013 and with a first-generation MCS tip cover that was withdrawn in 2012. It said the estimated settlement amounts apply to legal claims that were tolled, the oldest of which dates back to October 2012.
May 28, 2015 - 11:37pmThis Comment
Reply