Law Offices of Howard G. Smith 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 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”).
MAKO markets its advanced robotic arm solution and orthopedic implants for orthopedic procedures in the United States and internationally. The Company’s offers its RIO Robotic Arm Interactive Orthopedic (“RIO”) system and MAKOplasty applications (collectively, the “RIO system”), which enables 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 as it was experiencing higher costs and slower sales of its RIO systems; (b) utilization rates were declining for the Company’s RIO systems; (c) the Company provided 2012 revenue outlook at the start of the Class Period that 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, and you may retain counsel of your choice. 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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