Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against MAKO Surgical Corporation
May 15 2012 - 3:38PM
Business Wire
Glancy Binkow & Goldberg LLP announces that a class action
lawsuit has been filed in the United States District Court for the
Southern District of Florida on behalf of all purchasers of the
common stock of MAKO Surgical Corporation (“MAKO” or the “Company”)
(NASDAQ:MAKO) between January 9, 2012 and May 7, 2012, inclusive
(the “Class Period”), seeking to pursue remedies under the
Securities Exchange Act of 1934.
MAKO markets its advanced robotic arm solution and orthopedic
implants for orthopedic procedures in the United States and
internationally. The Company’s RIO Robotic Arm Interactive
Orthopedic (“RIO”) system and MAKOplasty applications
(collectively, the “RIO system”) enable orthopedic surgeons to
treat patient-specific osteoarthritic disease. The Complaint
alleges that the Company and certain of its executive officers
misrepresented or failed to disclose that: (a) the Company was
poised to suffer a larger first-quarter loss due to higher costs
and slower sales of its RIO systems; (b) utilization rates were
declining for the Company’s RIO systems; (c) the Company’s 2012
outlook, provided at the start of the Class Period, lacked a
reasonable basis when made; and (d), based on the foregoing,
defendants’ positive statements about the Company or its outlook
lacked a reasonable basis.
No class has yet been certified in the above action. Until a
class is certified, you are not represented by counsel unless you
retain one. If you purchased MAKO common stock between January 9,
2012 and May 7, 2012, you have certain rights, and have until July
9, 2012 to move for lead plaintiff status. To be a member of the
class you need not take any action at this time; you may retain
counsel of your choice or take no action and remain an absent class
member. If you wish to discuss this action or have any questions
concerning this Notice or your rights or interests with respect to
these matters, please contact Michael Goldberg, Esquire, of Glancy
Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los
Angeles, California 90067, by telephone at (310) 201-9150 or Toll
Free at (888) 773-9224, by e-mail to shareholders@glancylaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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