Levi & Korsinsky is investigating Stereotaxis, Inc. (“Stereotaxis” or the “Company”) (NASDAQ: STXS) to determine whether certain of its officers and directors have violated federal securities laws.
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On August 8, 2011, Stereotaxis reported that the Company’s financial results for the second quarter of the 2011 fiscal year were well below expectations with revenues declining more than 20% from $15.0 million for the second quarter of 2010. Stereotaxis also reported that its net loss for the second quarter of 2011 was $9.7 million, or $0.18 per share, compared to a net loss of $3.9 million, or $0.08 per share, reported for the second quarter of 2010. Stereotaxis also announced it was forced to suspend its full year guidance for 2011 and that the Company’s Chief Financial Officer, Dan Johnston, was resigning. On this news shares of Stereotaxis declined more than 58 percent closing on August 9, 2011 at $1.19 per share down from the previous day's close at $2.85 per share.
If you own shares of Stereotaxis stock and wish to obtain additional information about the investigation and your legal rights, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/stereotaxis-stxs.html.Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.