Health & Fitness
Health and Fitness
Health and Fitness
Mon, October 17, 2011
Sun, October 16, 2011
Sat, October 15, 2011
Fri, October 14, 2011
Faruqi & Faruqi, LLP Announces Investigation of Stereotaxis, Inc.
NEW YORK--([ BUSINESS WIRE ])--Faruqi & Faruqi, LLP, a national law firm concentrating on investor rights, consumer rights and enforcement of federal antitrust laws, is investigating potential wrongdoing at Stereotaxis, Inc. (aStereotaxisa or the aCompanya) (NASDAQ: STXS). Faruqi & Faruqi, LLP seeks to determine whether certain officers and directors at Stereotaxis violated federal securities laws in connection with statements made to the Company's shareholders.
Request more information now by clicking here: [ www.faruqilaw.com/STXS ]
The investigation focuses on whether certain individuals at the Company violated federal securities laws by, among other things, failing to disclose that: (1) demand for the Companya™s vaunted NIOBE® Magnetic Navigation System and Odyssey systems was weak; (2) there has been negative market feedback on certain Company products; and (3) the Companya™s reported backlog of orders did not fairly represent future revenue the Company was expected to recognize.
On August 8, 2011, Stereotaxis released disappointing financial results for second quarter of 2011. In addition to reporting losses of $9.7 million, the Company suspended full year guidance for 2011. Moreover, the Company revealed that its Chief Financial Officer, Daniel Johnston, resigned. As a result of this announcement, Stereotaxisa™ stock plummeted by more than 58%.
Take Action
If you purchased Stereotaxis securities and you would like to discuss your legal rights, visit [ www.faruqilaw.com/STXS ]. You can also contact us by calling Anthony Vozzolo or Richard W. Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [ avozzolo@faruqilaw.com ] or [ rgonnello@faruqilaw.com ]. Faruqi & Faruqi, LLP also encourages anyone with information regarding Stereotaxisa™ conduct during the period in question to contact the firm, including whistleblowers, former employees, shareholders and others.
About Faruqi & Faruqi, LLP
Faruqi & Faruqi, LLP is a national law firm, representing investors, consumers and companies in the prosecution of claims under state corporate and consumer laws and the federal securities and antitrust laws. The lawyers at Faruqi & Faruqi, LLP have demonstrated a clear commitment to championing the rights of shareholders and consumers nationwide.
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