Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of Florida on behalf of investors who purchased MAKO Surgical Corporation (Nasdaq: MAKO) common stock between January 9, 2012 and May 7, 2012.
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The complaint alleges that defendants misrepresented and/or failed to disclose: (a) that the Company was experiencing higher costs and slower sales of its RIO systems, and thus was set to suffer a larger first quarter loss; (b) that utilization rates of the Company’s RIO systems were dropping; (c) that the Company’s 2012 Outlook lacked a reasonable basis when made; and (d) that, based on the above, defendants lacked a reasonable basis for their positive statements about the Company and its prospects.
On May 7, 2012, the Company announced its first quarter 2012 financial results. Revenue dropped approximately 40% from the fourth quarter 2011 and missed analyst expectations by approximately 20 percent. As a result, the price of MAKO common stock dropped $15.13 per share, or nearly 37%, to close at $26.27 per share on May 8, 2012, on unusual high volume.If you suffered a loss in MAKO you have until July 9, 2012 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/mako-surgical. Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.