Health & Fitness
Health and Fitness
Health and Fitness
Wed, October 12, 2011
Tue, October 11, 2011
The Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of Stereotaxis, Inc.
DALLAS--([ BUSINESS WIRE ])--Former United States Securities and United States Securities and Exchange Commission attorney [ Willie Briscoe ], founder of [ The Briscoe Law Firm, PLLC ], and the securities litigation firm of [ Powers Taylor, LLP ] announce that the firms are investigating potential legal claims against the officers and Board of Directors of Stereotaxis, Inc. (aStereotaxisa or aSTXSa) (NASDAQ: STXS) related to potentially misleading statements issued by Stereotaxis between February 28, 2011 and August 9, 2011 (the aClass Perioda).
If you are an affected investor and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.
It has been alleged that during the Class Period, STXS and certain of its officers and directors made materially false and misleading statements or failed to disclose material information related to Stereotaxisa™ business and operations in violation of the Securities Exchange Act of 1934. Specifically, it is claimed that STXS and the other defendants misrepresented and/or failed to disclose the following adverse facts: (1) Stereotaxis was unable to leverage its extensive portfolio and scale of products and services in a strategically beneficial manner; (2) market feedback from users of Stereotaxisa™ technology was amixeda; (3) the Niobe system was far from the astandard of carea and needed afundamental product improvementsa; (4) demand for the Niobe and Odyssey systems was weak, and that the number of units being sold was decreasing; (5) the reported backlog of orders did not fairly represent future revenue the company expected to recognize; and that (6) Stereotaxis overstated its market edge. As a result of these alleged false statements, it is claimed that STXS stock traded at artificially inflated prices during the Class Period, reaching a high of $4.24 per share on April 6, 2011.
[ The Briscoe Law Firm, PLLC ] is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
[ Powers Taylor, LLP ] is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
