Gilman LLP Law Research Investor class action lawsuit against Stereotaxis, Inc..
Monday, October 31st, 2011Gilman LLP Law Research Investor class action lawsuit against Stereotaxis, Inc..
Naples, FL (PRWEB) October 20, 2011
Gilman Law LLP, a national law firm that victims of Securities Fraud, is actively investigating a class action lawsuit on behalf of Investors in Stereotaxis, Inc.
Gilman Law LLP, a prominent national securities law firm is investigating claims on behalf of Stereotaxis, Inc.. shareholders that certain officers and directors of the Company’s violation of the Securities Exchange Act of 1934 by failing to material information known to the investing public. If you are the common stock of Stereotaxis, Inc. purchased during the period between February 28, 2011 and August 9, 2011, and the transaction either lost money or still hold the shares, you should contact Gilman LLP Law no later than December 9, 2011 in your right to exercise PSLRA. You can still file Gilman LLP Law after that date for other options
a class action lawsuit on October 7, 2011 in U.S. District Court for the Eastern District of Missouri, Eastern Division alleges that during the class, certain officers and directors of Stereotaxis, including the Chief Executive Officer Michael Kamiński caused Stereotaxis common stock to trade at artificially high prices by issuing a series of positive statements to investors about the condition and future prospects of the company materially false and misleading securities.stanford.edu/1047/STXS00_01/2011107_f02c_1101752.pdf (Case No. 11 CV 01752). According to the complaint, these statements not to disclose that:
1. Stereotaxis was not able to leverage its extensive portfolio and scale of products and services in a strategically advantageous manner
2. Market feedback from the users of the company’s technology is “mixed”
3. The Niobe Cardiology instrument control system is far from the standard of care “and needed
” basic product enhancements. ”
4. The question of the dune system, as well as the Odyssey data management, weak, and that the number of units sold is decreasing.
5. The backlog of orders has not fairly represent future revenue the company expects to recognize
6. The Company overstated the market edge.
On August 8, 2011, Stereotaxis announced losses of $ 9.7 million and second quarter financial results for 2011, which is well below expectations stltoday.com/business/local/article_62938222-3bc4-5deb-b278-ba0b3dcf7e83.html. In addition, the company’s full year suspended guidance for 2011, and announced that Chief Financial Officer was thanked. A day later, the company’s shares fell 58% on the news, join just $ 1.19 per share.
Stereotaxis shareholders who are members of the class should contact Gilman Law LLP, no later than December 9, 2011 if they want to seek appointment as lead plaintiff in class action lawsuit. While share in any recovery is not affected by the lead plaintiff status, that individual will act on behalf of other class members in directing the litigation, including whether and how much of a settlement to accept the lawsuit. The main plaintiff will be selected by the Court under applicants claim that the greatest loss of investment in Stereotaxis during the class.
Gilman Law LLP has extensive experience both individual and institutional investors in securities class action lawsuits, and more than a billion dollars for his clients story. Gilman Law is ready to investors nationwide to help that losses due to misleading statements made by Stereotaxis officers and directors. For more information about Stereotaxis, Inc.. Investor class action lawsuit, please visit http://www.gilmanlawllp. com or http://www.gilmanlawsecuritiesstocksbondsfraud.com. For a free evaluation of your case, please contact Gilman Law TOLL FREE at (888) 252-0048
on Gilman Gilman LLP Law Law LLP, a leading national law firm with offices in Florida and Massachusetts, is recognized for the successful results to their clients on a wide variety of claims arising from securities fraud, consumer product injury, mass tort and class action lawsuits. For over 32 years, the Gilman Law LLP team of highly experienced lawyers earned known for their tireless work on behalf of clients in many of today’s most challenging and important legal issues.
Contact:
The Gilman Law LLP
Beachway Professional Center Tower
Suite 307
3301 Bonita Beach Road
Bonita Springs, FL 34134
call: (888) 252-0048
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