Class action litigation has been filed in the United States District Court for the Southern District of New York against Mazor and certain executives of the Company on behalf of investors who purchased or otherwise acquired Mazor's American Depositary Receipts ("ADRs") or other securities between November 8, 2016 and June 8, 2017, inclusive (the "Class"), alleging violations of the Securities Exchange Act of 1934.
Mazor is a medical device company that purportedly develops and markets innovative surgical guidance systems and complementary products. The Company claims that its expertise is computerized and imaging-based systems, primarily in the field of spine surgery, and that its Surgical Guidance Systems enable surgeons to advance from freehand surgical procedures to accurate, pre-planned, state-of-the-art, precision guided procedures.
On June 8, 2017, Mazor disclosed that in May 2017 the Israeli Securities Authority ("ISA") conducted a search of its offices and also questioned certain officers in connection with the ISA investigation.
The complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements, as well as failed to disclose, among other things, (1) that the Company was engaged in conduct that subjected it to ISA investigation, and (2) that as such, the Company was exposed to potential liability. Following this news, the price of Mazor's ADRs fell $3.70 per ADR, or 9.9%, to close at $33.67 on June 8, 2017. The next trading day, June 9, 2017, Mazor's ADRs declined an additional $3.08 per ADR, or 9.15%, to close at $30.59 per ADR on June 9, 2017.
If you are a member of the proposed Class, you may move the court no later than August 8, 2017 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing email@example.com or by calling 800-290-1952.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, the action, your rights, or your interests, please contact:
Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
Fax: (212) 687-7714
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California 94104
Fax: (415) 772-4707
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SOURCE Kaplan Fox & Kilsheimer LLP