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Law Offices of Todd M. Garber Announces Lead Plaintiff Deadline In Class Action Lawsuit against MAKO Surgical Corp.
Law Offices of Todd M. Garber announced that shareholders of MAKO Surgical Corp. (MAKO or the Company) have until July 9, 2012 to move for lead plaintiff status in the shareholder lawsuit filed in the United States District Court for the Southern District of Florida against MAKO and certain of its executive officers. The lawsuit was filed on behalf of a class (the Class) comprising all purchasers of MAKO common stock between January 9, 2012 and May 7, 2012, inclusive (the Class Period). MAKO offers its RIO Robotic Arm Interactive Orthopedic ("RIO") system and MAKOplasty applications (collectively, the "RIO system"), which enable orthopedic surgeons to treat patient-specific osteoarthritic disease. The Complaint alleges that the Company and certain of its executive officers issued materially false and misleading statements and/or failed to disclose material adverse facts concerning MAKO`s business and financial prospects. Specifically, defendants misrepresented or failed to disclose that: the Company was poised to suffer a larger first-quarter loss due to higher costs and slower sales of its RIO systems; utilization rates were declining for the Company`s RIO systems; the Company`s 2012 outlook, provided at the start of the Class Period, lacked a reasonable basis when made; and, based on the foregoing, defendants` positive statements about the Company or its outlook lacked a reasonable basis.
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