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Stereotaxis, Inc. Under Investor Investigation

  • If you purchased shares of Stereotaxis, Inc. (NASDAQ:STXS), 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 investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Investigation Overview

Company
Stereotaxis, Inc.
Security
NASDAQ: STXS

Summary

San Diego, Aug 24, 2011 (Shareholders Foundation) -- An investigation on behalf of investors in shares of Stereotaxis, Inc. (NASDAQ: STXS) over possible Violations of Securities Laws by Stereotaxis and others was announced.

The investigation by a law firm focuses on possible Stereotaxis (STXS) shareholder claims based on potential violations of the federal securities laws. Specifically the investigation concerns whether Stereotaxis, Inc. or others may have violated securities laws by issuing a series of statements regarding its business, its prospects and its operations that were materially false and misleading at the time they were made.

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 and suspended its FY 2011 guidance.

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

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