UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of report (Date of earliest event reported: December 17, 2004
Integrated Surgical Systems, Inc.
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(Exact name of registrant as specified in charter)
Delaware 1-12471 68-0232575
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1850 Research Park Drive
Davis, California 95616-4884
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(Address of principal executive offices) (Zip Code
Registrant's telephone number, including area code: (530) 792-2600
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 8. Other Events.
On December 17, 2004, we, Integrated Surgical Systems, Inc., were served with a
summons and complaint commenced in the Yolo County (California) Superior Court,
styled Bischoff, et al. v. Integrated Surgical Systems, et al. The plaintiffs in
this litigation, all from Germany, allege that our ROBODOC(R) System is
defective and dangerous, both in its manufacture and design and, as a result of
such defect and dangerous condition, the plaintiffs, all of whom were subjected
to medical treatment utilizing the ROBODOC System, sustained injury. The
plaintiffs are seeking class action status for this matter.
We believe the plaintiff's allegations are without merit. We intend to conduct a
vigorous defense against the allegations contained in the complaint. However, we
do not have any product liability insurance currently in effect, our coverage
having been terminated in June 2004, due to our financial inability to pay the
requisite insurance premiums.
Defending against a product liability action can be expensive and time consuming
to management personnel. We currently do not have the funds which may be
necessary to defend our company against the plaintiffs' allegations. The failure
to properly defend our company against the allegations could result in a
material judgment against our company which could adversely affect our financial
condition and results of operations. We also currently may not have the funds
necessary to satisfy any judgment rendered against us. Our failure to
successfully defend against the allegations could result in our seeking
protection under the United States Bankruptcy Code. Such action could have a
material adverse affect on the market price of our common stock.
This case is at its incipient stages. Our company intends to retain competent
counsel to represent us in this matter. The amount of damages, if any, are
indeterminable at this juncture, especially since our company believes it has
meritorious defenses to this action.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Integrated Surgical Systems, Inc.
Dated: December 28, 2004 By: /s/ RAMESH TRIVEDI
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Ramesh Trivedi, Chief Executive Officer