An investigation on behalf of current long term investors in MAKO Surgical Corp. (NASDAQ:MAKO) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NASDAQ:MAKO stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/11/2012 -- Certain directors and officers of MAKO Surgical Corp. are under the investigation for current long term investors in MAKO Surgical Corp. (NASDAQ:MAKO) shares over possible breaches of fiduciary duties.
Investors who are current long term investors in MAKO Surgical Corp. (NASDAQ:MAKO) shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in MAKO Surgical Corp. (NASDAQ:MAKO) stocks follows a lawsuit filed earlier by shareholders who NASDAQ:MAKO shares only between January 9, 2012 and May 7, 2012. However, the investigation on behalf of current long term investors NASDAQ:MAKO stocks, including those who purchased within and also those who purchased their NASDAQ:MAKO shares prior to the above stated time frame, concerns whether certain MAKO Surgical officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Southern District of Florida the plaintiff alleges that MAKO Surgical Corp. violated that Securities Exchange Act of 1934 by issuing allegedly materially false and misleading statements regarding MAKO Surgical’s financials and future business prospects.
On May 7, 2012, MAKO Surgical Corp. reported its Operating Results for the First Quarter 2012. Despite that its first quarter 2012 revenue rose from its first quarter 2011, it dropped approximately 40% from the fourth quarter 2011.
Shares of MAKO Surgical Corp. (NASDAQ:MAKO) fell from $41.40 on May 4, 2012 to as low as $21.29 per share on May 14, 2012.
Then on July 9, 2012, after the market closed, MAKO Surgical Corp. reported selected operating results for the second quarter 2012. Among other things, MAKO Surgical Corp. cut its full-year guidance for sales of its Rio robotic arm, as MAKO Surgical Corp said it has seen slower-than-expected growth in the first half of 2012.
Shares of MAKO Surgical Corp. (NASDAQ:MAKO) fell from $24.61 per share on July 9, 2012, to $14.01 per share on July 10, 2012.
Those who purchased shares of MAKO Surgical Corp. (NASDAQ:MAKO), have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com