LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of a class (the “Class”) consisting of persons and entities that acquired Mazor Robotics, Ltd. (“Mazor” or the “Company”) (NASDAQ: MZOR) securities between November 8, 2016 and June 8, 2017, inclusive (the “Class Period”).
If you are a member of the Class described above, you may move the Court no later than sixty days from the date of this notice, to serve as lead plaintiff. Please contact Lesley Portnoy at 888-773-9224 or 310-201-9150, or at email@example.com to discuss this matter.
On June 8, 2017, the Company disclosed that in May 2017, the Israeli Securities Authority (the “ISA”) conducted a search at the offices of Mazor and questioned certain officers in connection with an investigation held by the ISA.
On this news, the Company’s American Depository Share (“ADS” or “share”) price fell $3.70 per share, or 9.9%, to close at $33.67 per share on June 8, 2017. The next day, the share price continued to decline, falling another $3.08 per share, or 9.1%, to close at $30.59 per share on June 9, 2017.
The complaint filed in this class action lawsuit alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that the Company was engaged in conduct that subjected it to ISA investigation; (2) that, as such the Company was exposed to potential liability; and (3) that, as a result of the foregoing, Defendants’ statements about Mazor’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
If you purchased shares of Mazor during the Class Period you may move the Court no later than sixty days from the date of this notice to ask the Court to appoint you as lead plaintiff in this class action lawsuit. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action lawsuit. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of Glancy Prongay & Murray LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at (310) 201-9150, by e-mail to firstname.lastname@example.org, or visit our website at www.glancylaw.com.
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