NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Mazor Robotics (“Mazor” or the “Company”) (NASDAQ:MZOR) of the deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Mazor stock or options between November 8, 2016 and June 8, 2017 and would like to discuss your legal rights, click here: www.faruqilaw.com/MZOR. There is no cost or obligation to you.
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The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Mazor securities between November 8, 2016 and June 8, 2017 (the “Class Period”). The case, Bergeron v. Mazor Robotics Ltd. et al., No. 17-cv-04387 was filed on June 9, 2017.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that the Company might have conducted activities that prompted an investigation by the Israeli Securities Authority (“ISA”). Specifically, on June 8, 2017, the Company announced that the ISA searched the offices of the Company in May 2017 in connection to an ongoing investigation. The company announced that it has not been informed the nature of the investigation.
After the announcement, Mazor’s share price fell from $37.37 per share on June 7, 2017 to a closing price of $30.59 on June 9, 2017—a $6.78 or an 18% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Mazor’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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