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 inflated revenue because they were provided with false information," Judge Fogel wrote in his decision...
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