BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Mazor Robotics, Ltd.(“Mazor” or the “Company”) (NASDAQ: MZOR) securities between November 8, 2016 and June 8, 2017, inclusive (the “Class Period”). Mazor investors have until August 9, 2017 to file a lead plaintiff motion.
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 August 9, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. 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. 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at http://www.howardsmithlaw.com.
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