A lawsuit was filed for investors in shares of MAKO Surgical Corp. (NASDAQ:MAKO) in effort to halt the proposed takeover and NASDAQ:MAKO stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/21/2013 -- An investor, who currently hold shares of MAKO Surgical Corp. (NASDAQ:MAKO) shares, filed a lawsuit in effort to halt the proposed takeover of MAKO Surgical Corp. by Stryker Corporation for $30.00 per NASDAQ:MAKO share.
Investors who purchased shares of the MAKO Surgical Corp. (NASDAQ:MAKO) and currently hold any of those NASDAQ:MAKO shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:MAKO stockholders arising out of the attempt to sell MAKO Surgical Corp. too cheaply via an unfair process to Stryker Corporation.
On September 25, 2013, MAKO Surgical Corp. announced an agreement with Stryker Corporation (NYSE:SYK), by which Stryker Corporation will acquire all of the outstanding shares of MAKO Surgical Corp. (NASDAQ:MAKO) for $30.00 per share in cash, for an aggregate purchase price of approximately $1.65 billion.
However, the plaintiff claims that the offer is too low and undervalues MAKO Surgical Corp. Indeed, NASDAQ:MAKO shares traded during 2012 as high as $43.75 per share, In addition, MAKO Surgical’s performance improved lately. For instance, MAKO Surgical Corp. reported that its annual Total Revenue rose from $44.3 million in 2010 to $102.72 million in 2012 and that its respective Net Loss declined from $38.69 million to $32.55 million.
On October 18, 2013, NASDAQ:MAKO shares closed at $29.76 per share.
Those who are current investors in MAKO Surgical Corp. and purchased their MAKO Surgical shares prior to the announcement, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego