PITTSBURGH, May 14, 2012 /PRNewswire/ -- Notice is
hereby given by the Law Office of Alfred G.
Yates Jr., PC that it has filed a class action in the United
States District Court for the Southern District of Florida on behalf of purchasers of the common
stock of MAKO Surgical Corporation ("MAKO" or the "Company")
between January 9, 2012 and
May 7, 2012, inclusive (the "Class
Period"), seeking to pursue remedies under the Securities Exchange
Act of 1934 (the "Exchange Act").
If you wish to discuss this action or have any questions
concerning this notice or your rights or interests, please contact
plaintiff's counsel, Alfred G. Yates Jr.,
Esquire at 1-800-391-5164, toll free, or at yateslaw@aol.com
by e-mail. Please visit http://yatesclassactionlaw.com for more
information. Any member of the putative class may move the Court to
serve as lead plaintiff through counsel of their choice, or may
choose to do nothing and remain an absent class member. If
you wish to serve as lead plaintiff, you must move the Court no
later than July 9, 2012.
The complaint charges MAKO and certain of its officers and
executives with violations of the Exchange Act. The complaint
alleges that, throughout the Class Period, defendants issued
materially false and misleading statements regarding the Company's
financials and future business prospects. Specifically, defendants
misrepresented and/or failed to disclose the following adverse
facts: (i) that the Company was poised to suffer a wider first
quarter loss as it was experiencing higher costs and slower sales
of its RIO systems; (ii) that utilization rates of the Company's
RIO systems were dropping; (iii) that the Company's 2012 outlook
provided at the start of the Class Period lacked a reasonable basis
when made; and (iv) that, based on the above, defendants lacked a
reasonable basis for their positive statements about the Company or
its outlook.
On May 7, 2012, the Company
announced its first quarter 2012 financial results. Although
revenue rose from the first quarter 2011, it dropped approximately
40% from the fourth quarter 2011 and missed analysts' consensus
expectations by approximately 20%.
As a result, the price of MAKO common stock dropped $15.13 per share, or nearly 37%, to close at
$26.27 per share on May 8, 2012, on unusual trading volume of more
than 13 million shares traded.
Contact:
Alfred G. Yates, Jr.
(412) 391-5164 or Toll Free:
1(800) 391-5164
website: http://yatesclassactionlaw.com
email: yateslaw@aol.com
SOURCE Law Office of Alfred G. Yates
Jr., PC