NEW YORK--(BUSINESS WIRE)--Pomerantz LLP announces that a class action lawsuit has been filed against Mazor Robotics Ltd. (“Mazor” or the “Company”) (NASDAQ:MZOR) and certain of its officers. The class action, filed in United States District Court, Southern District of New York, and docketed under 17-cv-04422, is on behalf of a class consisting of investors who purchased or otherwise acquired Mazor’s American Depositary Receipts (“ADRs”) securities, seeking to recover compensable damages caused by defendants’ violations of the Securities Exchange Act of 1934.
If you are a shareholder who purchased Mazor securities between November 8, 2016 and June 7, 2017, both dates inclusive, you have until August 8, 2017 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at firstname.lastname@example.org or 888.476.6529 (or 888.4-POMLAW), toll free, ext. 9980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased.
Mazor is a medical device company that purportedly develops and markets innovative surgical guidance systems and complementary products. The Company claims that its expertise is computerized and imaging-based systems, primarily in the field of spine surgery, and that its Surgical Guidance Systems enable surgeons to advance from freehand surgical procedures to accurate, pre-planned, state-of-the-art, precision guided procedures.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) that the Company was engaged in conduct that subjected it to ISA investigation; (ii) that, as such the Company was exposed to potential liability; and (iii) as a result of the foregoing, Mazor’s public statements were materially false and misleading at all relevant times.
On June 8, 2017, Mazor disclosed to investors that the Israel Securities Authority (“ISA”) had conducted a search at the Company’s offices in May 2017 and questioned certain of Mazor’s officers in connection with an ISA investigation.
On this news, Mazor’s ADR price fell $3.70, or 9.9%, to close at $33.67 on June 8, 2017. The next day, the ADR price continued to decline, falling another $3.08, or 9.1%, to close at $30.59 on June 9, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com