Law Offices of Todd M. Garber Announces Class Action Lawsuit Against MAKO Surgical Corporation
June 15 2012 - 8:30PM
Business Wire
The Law Offices of Todd M. Garber announces that a class action
lawsuit has been filed in the United States District Court for the
Southern District of Florida on behalf of a class (the “Class”)
comprising 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”), seeking to pursue remedies
under the Securities Exchange Act of 1934.
MAKO offers its RIO Robotic Arm Interactive Orthopedic (“RIO”)
system and MAKOplasty applications (collectively, the “RIO
system”), which enable orthopedic surgeons to treat
patient-specific osteoarthritic disease. The Complaint alleges that
the Company and certain of its executive officers issued materially
false and misleading statements and/or failed to disclose material
adverse facts concerning MAKO’s business and financial prospects.
Specifically, defendants 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 action is required at this time to be a member of the
above-described Class; you may retain counsel of your choice or
take no action and remain an absent Class member. However, if you
purchased MAKO common stock between January 9, 2012 and May 7,
2012, you have until July 9, 2012 to file a motion with the court
to be appointed as lead plaintiff, if you meet certain legal
requirements. 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 Todd M. Garber, Esquire,
of the Law Offices of Todd M. Garber, by telephone at 213-700-7262
or by email to info@toddgarberlaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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