San Mateo County Superior Court
CPM was Co-Lead Counsel in a shareholder derivative action against certain current and former officers and directors of Intuitive, which designed and sold a robotic surgical system. Intuitive’s management allegedly failed to properly report patient injuries and other malfunctions in the system to the public or regulatory bodies, while executives received and then dumped massive amounts of stock. On the day before trial, CPM successfully negotiated a settlement including $15 million in cash and options paid back to Intuitive by the individual defendants, and requiring the company to implement extensive corporate governance, insider trading, and product safety measures.
