Health & Fitness
Thu, September 8, 2011Wed, September 7, 2011Tue, September 6, 2011Mon, September 5, 2011Sun, September 4, 2011Sat, September 3, 2011Fri, September 2, 2011Thu, September 1, 2011Wed, August 31, 2011Tue, August 30, 2011Mon, August 29, 2011Fri, August 26, 2011Thu, August 25, 2011Wed, August 24, 2011Tue, August 23, 2011Mon, August 22, 2011Sat, August 20, 2011Fri, August 19, 2011Thu, August 18, 2011Wed, August 17, 2011Tue, August 16, 2011Mon, August 15, 2011Fri, August 12, 2011Thu, August 11, 2011Wed, August 10, 2011Tue, August 9, 2011Mon, August 8, 2011Sun, August 7, 2011Sat, August 6, 2011Fri, August 5, 2011Thu, August 4, 2011Robbins Umeda LLP Announces an Investigation of Stereotaxis, Inc.
Published in Health and Fitness on Tuesday, August 23rd 2011 at 13:01 GMT by Market Wire
SAN DIEGO--([ BUSINESS WIRE ])--Robbins Umeda LLP, a [ shareholder rights litigation ] firm, has commenced an investigation into possible breaches of fiduciary duty and other violations of the law by certain officers and directors at Stereotaxis, Inc. (NASDAQ: STXS). Stereotaxis designs, manufactures, and markets cardiology instrument controls systems for the treatment of arrhythmias and coronary artery diseases. The company was founded in 1990 and is located in St. Louis, Missouri.
If you invested in Stereotaxis and would like more information about your [ shareholder rights ], please contact attorney Gregory E. Del Gaizo at 800-350-6003 or via the [ shareholder information form ] on our website.
Robbins Umeda LLP's investigation focuses on whether the directors and officers of Stereotaxis harmed the company and investors by issuing improper statements about the condition and future business prospects of the company. On August 8, 2011, Stereotaxis issued a press release announcing financial results for the second quarter of fiscal year 2011 that showed that the company was performing well below expectations, as revenue had declined 22.7% from $15.0 million for the second quarter of 2010. Stereotaxis also reported that its net loss for the second quarter 2011 was $9.7 million, or $0.18 per share, compared to a net loss of $3.9 million, or $0.08 per share, reported for the second quarter of 2010. The announcement of these disappointing results was accompanied by the additional revelations that Stereotaxis had been forced to suspend its full year guidance for 2011, and that Chief Financial Officer Dan Johnston was resigning from the company. On this news, shares of Stereotaxis declined by more than 58%, opening on August 9, 2011, at just $1.64 per share.
Robbins Umeda LLP represents individual and institutional shareholders in derivative, direct, and class action lawsuits. The law firm's skilled litigation teams include former federal prosecutors, former defense counsel from top multinational corporate law firms, and career [ shareholder rights attorneys ]. Robbins Umeda LLP has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. For more information, please go to [ http://www.robbinsumeda.com ].
Press release link: [ http://www.robbinsumeda.com/shareholders-rights-blog/stereotaxis-inc/ ]
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