Stereotaxis, Inc. Investor files Class Action Lawsuit over alleged Securities Laws Violations

Oct. 19, 2011 - PRLog -- An investor in shares of Stereotaxis, Inc.  filed a lawsuit in the U.S. District Court for the Eastern District of Missouri on behalf of purchasers of the common stock of Stereotaxis, Inc.  between February 28, 2011 and August 9, 2011, over alleged violations of Federal Securities Laws.

If you purchased shares of Stereotaxis, Inc.  between February 28, 2011 and August 9, 2011, you have certain options and there are short and strict deadlines running. Deadline: December 9, 2011. NASDAQ- STXS stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges that against certain of Stereotaxis’ officers and directors violated the Securities Exchange Act of 1934

The plaintiff claims that beginning on February 28, 2011, the Chief Executive of Stereotaxis, along with certain officers and directors at Stereotaxis, issued a series of positive statements to investors about the business condition and future prospects of Stereotaxis that were allegedly materially false and misleading, and that caused shares of Stereotaxis’ stock to trade at artificially high prices.

Despite that Stereotaxis reported an increase in its annual Total Revenue from $39.30million in 07 to $54.05million in 2010 and it was able to lower its Net Loss from $48.12million in 2007 to $19.92million in 2010, Stereotaxis, Inc. reported for the first quarter in 2011 a lower first quarter Revenue of $10.22million compared to $10.62million last year and an increased first quarter Net Loss of $9.55million compared to $8.43million one year earlier.

Shares of Stereotaxis, Inc. (Public, NASDAQ-STXS) traded during 2007 as high as $16.10 per share and fell in November ‘08 to as low as $2.25 per share. In 2009 NASDAQ STXS regained some value and closed 09 at slightly below $4 per share. In 2010 STXS shares were able to breach through $5 per share and traded during March 2010 as high as $5.56, still significantly below its 2008 high. During the first months in 2011 STXS were able to trade in February and April around $4 per share.

However, NASDAQ STXS shares fell to as low under $1 per share after Stereotaxis, Inc. announced its second quarter results 2011, suspended its FY 2011 guidance, and announced that its Chief Fancial Officer was resigning. Stereotaxis, Inc. announced that its second quarter Total Revenue was down 22.7% from $15.0 million for the second quarter of 2010 and its Net Loss for the second quarter 2011 was $(9.7) million compared to a net loss of $(3.9) million reported for the second quarter 2010.

During August 23, 2011 NASDAQ shares fell to as low as $0.89 per share.

Those who purchased shares of Stereotaxis, Inc.  between February 28, 2011 and August 9, 2011, you have certain options and there are short and strict deadlines running. Deadline: December 9, 2011. NASDAQ- STXS stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group. We do research related to shareholder issues and inform investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. At Shareholders Foundation, Inc. we are in contact with a large number of shareholders. We offer help, support, and assistance for every shareholder. We help investors find answers to their questions and equitable solutions to their problems. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.