Accuray Incorporated Former Employee Investigation

An analysis on account of above and accepted advisers of Accuray Incorporated (Public, NASDAQ:ARAY) apropos abeyant Employee Retirement Income Security Act (“ERISA”) Breach of Fiduciary Duty was announced.

Those who are above or accepted advisers or are a affiliate of any of Accuray Inc’s investment affairs or accumulation administration retirement affairs and purchased or captivated Accuray Incorporated (Public, NASDAQ:ARAY) shares or accept advice apropos to this investigation, you should acquaintance the Shareholders Foundation, Inc. at Email: mail(at)shareholdersfoundation.com or alarm us at: +1 (858) 779 - 1554. Accuray Incorporated has been accused of balance artifice and according to a an analysis by a law close beneath ERISA advisers (former and current) of Accuray Incorporated (Public, NASDAQ:ARAY) may be acceptable to book a ERISA complaint for putting banal options at accident if they can prove their employer abandoned its fiduciary assignment to them. The Fiduciary assignment refers to a company’s albatross to the humans who advance in it and if an employer puts the company’s absorption advanced of the investors’, it has broken its fiduciary duty, so the investigation. Accuray Incorporated (Public, NASDAQ:ARAY) faces a balance chic action accusation on account of investors in ARAY, who purchased shares amid Feb. 07, 2007 and Aug. 19, 2008. Recently an broker in Accuray Inc (Public, NASDAQ:ARAY) has filed a proposed balance chic action accusation in broker in the United States District Court for the Northern District of California on account of purchasers of Accuray Inc.(NASDAQ:ARAY) accepted banal pursuant or traceable to Accuray ‘s Initial Public Offering (the “IPO”) on or about February 7, 2007, as able-bodied as purchasers of Accuray’s accepted banal amid February 7, 2007 and August 19, 2008 over declared violations of Federal Securities Laws by Accuray and others.According to the complaint the plaintiff alleges that Accuray Inc and assertive of its admiral and admiral abandoned the Securities Act and the Exchange Act. By misrepresenting and declining to acknowledge amid February 7, 2007 and August 19, 2009 actual advice apropos the above and astute likelihood of accomplishment of affairs in Accuray’s “backlog,” a amount apery the absolute acquirement that Accuray expects to accept from the auction and application of the CyberKnife system. Then on August 19, 2008, Accuray appear its budgetary fourth division and abounding year 2008 banking after-effects for the aeon concluded June 28, 2008 in a columnist absolution blue-blooded “Accuray Announces Results for the Fourth Quarter and Fiscal Year End 2008; 28 New Contracts Valued at $115.5 Million Signed in Fourth Quarter”. That aforementioned day, Accuray captivated a appointment alarm with analysts and common the banking after-effects in the columnist absolution and appear that Accuray removed addition $39 actor from backlog, so the lawsuit. Thus, Accuray removed about $127 actor in balance during the endure three abode of budgetary 2008.

Accuray Incorporated, amid in Sunnyvale, California, has developed an able automatic radiosurgery system, the CyberKnife system, advised to amusement solid tumors anywhere in the anatomy as an addition to acceptable surgery. The CyberKnife arrangement represents the next bearing of radiosurgery systems, accumulation connected image-guidance technology with a bunched beeline accelerator (linac) that has the adeptness to move in three ambit according to a patient’s analysis plan. Accuray appear in 2007 Total Revenue of $140.45million and in 2008 Total Revenue of $210.38million with an Net Income of $5.38million. Shares of Accuray Incorporated (Public, NASDAQ:ARAY) traded afresh at $6.52 per share, down from a 52weekHigh of $9.08 per allotment and $17.83 per allotment in aboriginal 2008.