Medical Device Co. Accused of Artificially Inflating Stock

Law360, New York (May 10, 2012, 7:38 PM EDT) -- A shareholder on Thursday hit medical device company MAKO Surgical Corp. and executives with a proposed class action in Florida federal court, alleging the company lied about its finances to inflate the firm’s stock price, which crashed Monday when the truth was revealed.

Lead plaintiff James Harrison Jr. claims that MAKO’s CEO Maurice R. Ferre and Chief Financial Officer Fritz L. LaPorte misrepresented the success of sales of the company’s Robotic Arm Interactive Orthopedic systems, propelling the firm’s stock price to a high of $44.98 per...
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