NEW YORK, June 29, 2012 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at MAKO Surgical Corporation ("MAKO" or the "Company") (NASDAQ: MAKO).
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The investigation focuses on whether MAKO and its executives violated federal securities laws by failing to disclose that: (1) the Company was poised to suffer a larger first-quarter loss due to higher costs and slower sales of its RIO systems; (2) utilization rates were declining for the Company's RIO systems; and (3) the Company's 2012 outlook lacked a reasonable basis when made.
On May 7, 2012, MAKO announced its first quarter 2012 financial results. Although revenue rose from the first quarter 2011, it dropped approximately 40% from the fourth quarter 2011 and missed analysts' consensus expectations by approximately 20%. As a result, MAKO stock dropped $15.13 to close at $26.27 per share on May 8, 2012.
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If you purchased MAKO stock or options between January 9, 2012 and May 7, 2012 and would like to discuss your legal rights, visit www.faruqilaw.com/MAKO. You can also contact us by calling Juan Monteverde, Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to jmonteverde@faruqilaw.com, rgonnello@faruqilaw.com or fmcconville@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding ModusLinks's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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Attn: Juan Monteverde, Esq.
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Richard Gonnello, Esq.
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Francis McConville, Esq.
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Telephone: (877) 247-4292 or (212) 983-9330
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