Jan. 08, 2013 (Shareholders Foundation) -- An investigation on behalf of investors of Accuray Incorporated (NASDAQ:ARAY) shares over potential securities laws violations by Accuray Incorporated and certain of its directors and officers in connection certain financial statements was announced .
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Accuray Incorporated (NASDAQ:ARAY) concerning whether a series of statements by Accuray Incorporated regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Accuray Incorporated reported that its Total Revenue increased from $222.28 million for the 52 weeks period that ended on June 30, 2011 to $409.22 million for the 52 week period that ended on June 30, 2012.
On February 8, 2012, Accuray Incorporated announced its results for the second quarter fiscal 2012. Among other things, Accuray Incorporated reaffirmed its FY 2012 Revenue Guidance.
Shares of Accuray Incorporated (NASDAQ:ARAY) increased from $4.41 per share in early January 2012 to as high as $7.83 per share in April 2012.
Then on January 3, 2012 after the market closed, Accuray Incorporated announced preliminary results for the second quarter of fiscal 2013, updated prior guidance for fiscal 2013 and announced a restructuring.
Shares of Accuray Incorporated (NASDAQ:ARAY) declined from $6.78 per share on Jan. 3, 2013, to $5.06 per share on Jan. 4, 2013.