NEW YORK, June 2, 2008 (Lawfuel) — Roy Jacobs & Associates
announces that a class action lawsuit has been commenced in the United
States District Court, Western District of Wisconsin, on behalf of
purchasers of the common stock of TomoTherapy, Inc. (“TOMO” or the
“Company”) (Nasdaq:TOMO) from February 13, 2008 through April 17, 2008
(the “Class Period”), alleging claims for securities fraud.
For further information, please contact Roy L. Jacobs, Esq. toll-free
at 1-888-884-4490 or by e-mail to rjacobs@jacobsclasslaw.com.
The complaint charges TOMO and its Chief Executive Officer Thomas R.
MacKie with violations of the Federal Securities Laws. TOMO develops,
markets and sells the Hi-Art system, a radiation therapy system for the
treatment of various types of cancer. As alleged in the complaint,
defendants concealed in their February press release that (a) a larger
percentage of TOMO’s revenue backlog at December 31, 2007 and TOMO’s
new orders received through February 12, 2008 were from for-profit
entities which had ordered multi-unit Hi-Art Systems and had scheduled
deliveries of the multi-units sequentially throughout 2008 and 2009;
(b) the average selling prices were lower in Q1’08 by approximately 11%
than they had been in Q1’07 because Q1’07 sales included a large number
of European sales denominated in Euros; (c) new sales orders from
Europe had slowed in Q1’08 through February 12, 2008 and TOMO was
experiencing a serious delay in closing European orders; (d) TOMO’s
gross margins in Q1’08 were and would continue to be approximately 20%
lower than they had been in Q1’07; and (e) TOMO’s revenues in Q1’08
would be substantially lower and would not show increased growth from
either Q1’07 or Q4’07 and that TOMO would suffer a loss in Q1’08.
Shortly after the February release, director Neis sold approximately
917,621 shares of TOMO common stock during February 26, 2008 through
March 14, 2008.
We are also investigating an expansion of the class period to include
the October 10, 2007, share offering (the “Offering”) where selling
shareholders sold 8.5 million TomoTherapy shares to the investing
public at $22.25 per share, including 4.4 million shares sold by
Company officers and directors. If you bought shares in the Offering
and suffered a loss, you may recover your losses from defendants
without having to prove fraud.
If you purchased TomoTherapy shares in the Offering which closed on or
about October 10, 2007, or in the open market from October 10, 2007
through April 17, 2008, and are interested in discussing your rights
free of charge, please contact Roy L. Jacobs. You may qualify to serve
as Lead Plaintiff on behalf of the Class. All motions for appointment
as Lead Plaintiff must be filed by July 29, 2008.
