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MAKO Surgical Corp. (NASDAQ:MAKO) Investor Files Lawsuit Against Acquisition By Stryker Corporation

  • If you purchased shares of the MAKO Surgical Corp. (NASDAQ:MAKO) and currently hold any of those NASDAQ:MAKO shares, you have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
MAKO Surgical Corp.
Security
NASDAQ: MAKO

Case Name
MAKO Surgical Deal Case 10/18/2013
Type of Lawsuit
Mergers and Acquisition
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Summary

October 18, 2013 (Shareholders Foundation) - An investor, who currently hold shares of MAKO Surgical Corp. (NASDAQ:MAKO) shares, filed a lawsuit in effort to halt the proposed takeover of MAKO Surgical Corp. by Stryker Corporation for $30.00 per NASDAQ:MAKO share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:MAKO stockholders arising out of the attempt to sell MAKO Surgical Corp. too cheaply via an unfair process to Stryker Corporation.

On September 25, 2013, MAKO Surgical Corp. announced an agreement with Stryker Corporation (NYSE:SYK), by which Stryker Corporation will acquire all of the outstanding shares of MAKO Surgical Corp. (NASDAQ:MAKO) for $30.00 per share in cash, for an aggregate purchase price of approximately $1.65 billion.

However, the plaintiff claims that the offer is too low and undervalues MAKO Surgical Corp. Indeed, NASDAQ:MAKO shares traded during 2012 as high as $43.75 per share, In addition, MAKO Surgical’s performance improved lately. For instance, MAKO Surgical Corp. reported that its annual Total Revenue rose from $44.3 million in 2010 to $102.72 million in 2012 and that its respective Net Loss declined from $38.69 million to $32.55 million.

On October 18, 2013, NASDAQ:MAKO shares closed at $29.76 per share.