On or around 03/18/2014 (Date of order of final judgment)
Filing Date: October 07, 2011
According to a press release dated October 11, 2011, the Plaintiff charges the Defendants with violations of the federal securities laws in connection with certain false and misleading statements.
The Complaint alleges that during the Class Period the Company and certain of its executive officers concealed from investors that: (1) the Company’s business model was not working because the Company was unable to leverage its extensive portfolio and scale of products and services in a strategically beneficial manner; (2) market feedback from users of the technology was "mixed," therefore wide adoption was not "predictable"; (3) the a certain system did not meet the "standard of care" and needed "fundamental product improvements"; (4) demand for the that system and another set of systems was weak, and the number of units being sold was decreasing; (5) the Company's reported order backlog did not fairly represent future revenue the Company expected to recognize; and (6) the Company overstated its market edge and, as a result, the Company's financial guidance for 2011 was materially false and misleading.
On December 29, 2011, the Honorable Henry E. Autrey appointed Local 522 Pension Fund as lead plaintiff and approved Robbins Umeda LLP and Robbins Geller Rudman & Dowd LLP as co-lead counsel and Carey, Danis & Lowe as liaison counsel.
On March 19, 2012, the plaintiffs filed a first and amended complaint.
Company & Securities Information
Defendant: Stereotaxis, Inc.
Industry: Medical Equipment & Supplies
Headquarters: United States
Ticker Symbol: STXS
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
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