MAKO Surgical Shareholder Alert: The Briscoe Law Firm & Powers Taylor, LLP Investigate Possible Breaches of Fiduciary Duty by...
May 18 2012 - 2:16PM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the
securities litigation firm of Powers Taylor, LLP announce that the
firms are investigating legal claims against the officers and Board
of Directors of MAKO Surgical Corp. (“MAKO”) (NASDAQ: MAKO) related
to potential securities violations between January 1, 2012 and May
7, 2012 (the “Class Period”).
“Recent revelations about alleged improper business practices
and procedures regarding key aspects of the company’s business and
other misleading financial statements have prompted the firms to
investigate possible breaches of fiduciary duties and other
violations of state law by MAKO officers and directors. Based on
our investigation, we are prepared to pursue litigation to preserve
the company and the value of MAKO stock for all shareholders,” said
shareholder rights attorney Willie Briscoe.
If you are an affected investor and you want to learn more about
the lawsuit or join the action, contact Patrick Powers at Powers
Taylor, LLP, toll free (877) 728-9607, via e-mail at
patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law
Firm, PLLC, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
In a recently filed federal class action complaint, MAKO and
certain of its officers and directors were charged with violating
the Securities Exchange Act of 1934. Specifically, the complaint
alleges that defendants’ issued materially false and misleading
statements during the Class Period because defendants knew that:
(a) MAKO was poised to suffer a wider first quarter loss as it was
experiencing higher costs and slower sales of its RIO systems; (b)
utilization rates of MAKO’s RIO systems were dropping; (c) MAKO’s
2012 outlook provided at the start of the Class Period lacked a
reasonable basis when made; and (d) based on the above, defendants
lacked a reasonable basis for their positive statements about the
Company or its outlook. As a result, it is claimed that MAKO traded
at artificially high prices during the Class Period, and when
defendants revealed MAKO’s true financial condition and future
business prospects, the price of MAKO common stock fell more than
40% from its Class Period high.
The Briscoe Law Firm, PLLC is a full service business
litigation, commercial transaction, and public advocacy firm with
more than 20 years of experience in complex litigation and
transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
Mako Surgical Corp. (MM) (NASDAQ:MAKO)
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