Robbins
Umeda LLP has commenced an investigation into possible mismanagement
at TomoTherapy Incorporated ("TomoTherapy" or the "Company") (NASDAQ:
TOMO). TomoTherapy develops, manufactures, markets, and sells a
radiation therapy system for the treatment of cancer. All of the
Company's revenues are derived from the sale of its radiation therapy
system. The Company was founded in 1997 and is headquartered in Madison,
Wisconsin.
Robbins Umeda LLP's investigation concerns whether certain officers
and/or directors issued a series of materially false and misleading
statements regarding TomoTherapy's revenues and net income. It appears
that the Company withheld material information from the investing public
between May 9, 2007 and April 17, 2008, regarding its revenues from
backlogged multi-unit orders and earnings guidance. Then, on April 17,
2008, TomoTherapy disclosed that a large percentage of the Company's
orders would remain in its backlog into late 2008 and 2009, rather than
being delivered in the beginning of 2008 as expected. This increased
time in backlog resulted in a corresponding delay in recognition of
revenue. After the release of this news, TomoTherapy's common stock
declined 32%, on extraordinary trading volume in excess of eight million
shares.
A number of securities fraud class actions have been filed on behalf of
shareholders who purchased or otherwise acquired TomoTherapy stock
between May 9, 2007 and April 17, 2008, seeking recovery from
TomoTherapy and certain of its officers for the damages they have
suffered as a result of the officers' alleged mismanagement of the
Company. Securities class actions like these can potentially cause
additional damage to the Company.
If you purchased TomoTherapy stock before May 9, 2007, continue to hold
your shares, and would like more information about your rights as a
shareholder, please contact attorney Lauren Levi at 800-350-6003 or by
e-mail at llevi@robbinsumeda.com.
Robbins Umeda LLP is a California-based law firm with significant
experience representing investors in shareholder derivative and
securities fraud class actions. For more information about the firm,
please visit our website at http://www.robbinsumeda.com.
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