MAKO Surgical Corp. (NASDAQ:MAKO) Investor Files Class Action Lawsuit Over Alleged Securities Laws Violations
May 15, 2013 - The Judge dis missed the case.
September 12, 2012 - The lead plaintiff filed a consolidated amended complaint.
August 2, 2012 - The judge consolidated several cases and appointed lead plaintiff and lead counsel.
May 10, 2012 - An investor in NASDAQ:MAKO shares filed a lawsuit in the U.S. District Court for the Southern District of Florida against MAKO Surgical Corp. over alleged violations of Federal Securities Laws in connection with certain financial statements.
According to the complaint the plaintiff alleges on behalf of purchasers of the common stock of MAKO Surgical Corporation (NASDAQ: MAKO) between January 9, 2012 and May 7, 2012, that MAKO Surgical Corp. and certain of its officers and executives violated that Securities Exchange Act of 1934 by issuing allegedly materially false and misleading statements regarding MAKO Surgical’s financials and future business prospects.
MAKO Surgical Corp. reported that its annual Revenue rose from $2.94million in 2008 to $84.51million in 2011 and that its Net Loss slightly decreased from $37.08million to $36.14million, respectively.
Shares of MAKO Surgical Corp. (NASDAQ:MAKO) rose from as low as $9.51 per share in October 2010 to as high as $42.15 per share in March 2012.
Then 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 $26.21 per share and closed on May 10, 2012, at $24.27 per share.