LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Todd M. Garber announces that a class action lawsuit has been filed in the United States District Court for the Southern District of Florida on behalf of a class (the “Class”) comprising all persons or entities who purchased or otherwise acquired the common stock of MAKO Surgical Corporation (“MAKO” or the “Company”) (NASDAQ:MAKO) between January 9, 2012 and May 7, 2012, inclusive (the “Class Period”), seeking to pursue remedies under the Securities Exchange Act of 1934.
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: (a) the Company was poised to suffer a larger first-quarter loss due to higher costs and slower sales of its RIO systems; (b) utilization rates were declining for the Company’s RIO systems; (c) the Company’s 2012 outlook, provided at the start of the Class Period, lacked a reasonable basis when made; and (d), based on the foregoing, defendants’ positive statements about the Company or its outlook lacked a reasonable basis.
No action is required at this time to be a member of the above-described Class; you may retain counsel of your choice or take no action and remain an absent Class member. However, if you purchased MAKO common stock between January 9, 2012 and May 7, 2012, you have until July 9, 2012 to file a motion with the court to be appointed as lead plaintiff, if you meet certain legal requirements. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to info@toddgarberlaw.com.
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