Pittsburgh Law Office of Alfred G. Yates Jr., PC Files Class Action Lawsuit On Behalf of Shareholders of MAKO Surgical Corporation (MAKO)

PITTSBURGH, May 14, 2012 /PRNewswire/ -- Notice is hereby given by the Law Office of Alfred G. Yates Jr., PC that it has filed a class action in the United States District Court for the Southern District of Florida on behalf of purchasers of the common stock of MAKO Surgical Corporation ("MAKO" or the "Company") between January 9, 2012 and May 7, 2012, inclusive (the "Class Period"), seeking to pursue remedies under the Securities Exchange Act of 1934 (the "Exchange Act").

If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Alfred G. Yates Jr., Esquire at 1-800-391-5164, toll free, or at [email protected] by e-mail. Please visit http://yatesclassactionlaw.com for more information. 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.  If you wish to serve as lead plaintiff, you must move the Court no later than July 9, 2012.

The complaint charges MAKO and certain of its officers and executives with violations of the Exchange Act. The complaint alleges that, throughout the Class Period, defendants issued materially false and misleading statements regarding the Company's financials and future business prospects. Specifically, defendants misrepresented and/or failed to disclose the following adverse facts: (i) that the Company was poised to suffer a wider first quarter loss as it was experiencing higher costs and slower sales of its RIO systems; (ii) that utilization rates of the Company's RIO systems were dropping; (iii) that the Company's 2012 outlook provided at the start of the Class Period lacked a reasonable basis when made; and (iv) that, based on the above, defendants lacked a reasonable basis for their positive statements about the Company or its outlook.

On May 7, 2012, the Company 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, the price of MAKO common stock dropped $15.13 per share, or nearly 37%, to close at $26.27 per share on May 8, 2012, on unusual trading volume of more than 13 million shares traded.

Contact:
Alfred G. Yates, Jr.
(412) 391-5164 or Toll Free: 1(800) 391-5164
website: http://yatesclassactionlaw.com
email: [email protected]

SOURCE Law Office of Alfred G. Yates Jr., PC

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