Ryan & Maniskas, LLP Announces Class Action Lawsuit Against MAKO Surgical Corp.
May 15 2012 - 7:09PM
Business Wire
Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/mako)
announces that a class action lawsuit has been filed in United
States District Court for the Southern District of Florida on
behalf of all persons or entities who purchased or otherwise
acquired 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”).
For more information regarding this class action suit, please
contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire)
toll-free at (877) 316-3218 or by email at rmaniskas@rmclasslaw.com
or visit: www.rmclasslaw.com/cases/mako.
The Complaint alleges that MAKO, a medical device company that
markets its advanced robotic arm solution and orthopedic implants
for orthopedic procedures, and certain of its officers and
directors violated the federal securities laws. Specifically, the
Complaint alleges that defendants failed to disclose the following
adverse facts: (1) MAKO was poised to suffer a wider first quarter
loss as it was experiencing higher costs and slower sales of its
RIO systems; (2) utilization rates of the Company's RIO systems
were dropping; (3) that the Company's 2012 outlook provided at the
start of the Class Period lacked a reasonable basis when made; and
(4) that defendants lacked a reasonable basis for their positive
statements about MAKO or its outlook.
On May 7, 2012, MAKO 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,
MAKO stock dropped $15.13 to close at $26.27 per share on May 8,
2012.
If you are a member of the class, you may, no later than July 9,
2012, request that the Court appoint you as lead plaintiff of the
class. A lead plaintiff is a representative party that acts on
behalf of other class members in directing the litigation. In order
to be appointed lead plaintiff, the Court must determine that the
class member's claim is typical of the claims of other class
members, and that the class member will adequately represent the
class. Under certain circumstances, one or more class members may
together serve as "lead plaintiff." Your ability to share in any
recovery is not, however, affected by the decision whether or not
to serve as a lead plaintiff. You may retain Ryan & Maniskas,
LLP or other counsel of your choice, to serve as your counsel in
this action.
For more information about the case or to participate online,
please visit: www.rmclasslaw.com/cases/mako or contact Richard A.
Maniskas, Esquire toll-free at (877) 316-3218, or by e-mail at
rmaniskas@rmclasslaw.com. For more information about class action
cases in general or to learn more about Ryan & Maniskas, LLP,
please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation
firm. Ryan & Maniskas, LLP is devoted to protecting the
interests of individual and institutional investors in shareholder
actions in state and federal courts nationwide.
Mako Surgical Corp. (MM) (NASDAQ:MAKO)
Historical Stock Chart
From May 2024 to Jun 2024
Mako Surgical Corp. (MM) (NASDAQ:MAKO)
Historical Stock Chart
From Jun 2023 to Jun 2024