In re Intuitive Surgical Shareholder Derivative Litigation
Opinion
Lead Opinion
Davila, J.
*1109 ORDER DENYING MOTION TO DISMISS
' Lead Plaintiff Robert Berg. (“Plaintiff’) filed- the instant shareholder derivative ac *1110 tion for the benefit of Nominal Defendant Intuitive Surgical, Inc. (“Intuitive”) against certain members of the board of directors and senior management team (collectively, “Defendants”). Plaintiff alleges that since 2011, Defendants breached their fiduciary duties and committed serious misconduct when they knowingly failed to comply with the Food and Drug Administration’s (“FDA”) regulations, knowingly failed to establish sufficient internal controls to comply with FDA regulations, and participated in insider trading. Presently before the court is Defendants’ Motion to Dismiss pursuant to Federal Rules of Civil Procedure 23.1 and 12(b)(6). See Dkt. No. 64.
Federal jurisdiction arises pursuant to 28 U.S.C, § 1332(a). The court found this matter suitable for decision without oral argument pursuant to Civil Local Rule 7-1(b) and vacated the associated hearing. Having carefully considered the parties’ pleadings, the court finds Plaintiffs arguments meritorious. Therefore, the Motion to Dismiss will be denied for the reasons explained below.