Hansen Medical Securities Fraud Action Nixed

Law360, New York (August 26, 2011, 2:18 PM EDT) -- A California federal judge on Thursday tossed a putative shareholder class action that alleged medical robotics maker Hansen Medical Inc. artificially inflated its revenues, saying the complaint was too vague.

U.S. District Judge Jeremy Fogel ruled that although the shareholders had "laid the foundation" for a securities suit, their allegations were too unspecific to show that Hansen and its executives had acted with scienter by knowingly setting out to mislead investors

"Plaintiffs' allegations taken together do not preclude the possibility that defendants were unaware of the...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Curry v. Hansen Medical, Inc. et al


Case Number

5:09-cv-05094

Court

California Northern

Nature of Suit

Securities/Commodities

Judge

Thelton E. Henderson

Date Filed

October 23, 2009

Law Firms

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.