3070 Bristol Pike, Suite 112
Bensalem, PA 19020
Telephone: (215) 638-4847
Facsimile: (215) 638-4867
The Law Offices of Howard G. Smith is investigating whether TomoTherapy Inc. (NASDAQ: TOMO) breached its fiduciary duty to its employees who were invested in its 401(k) Plan by steering its employees to invest their retirement savings in TomoTherapy stock when the Company knew that doing so was a bad investment.
Specifically, the Law Offices of Howard G. Smith believes that the Company steered its employees to invest their retirement savings in Company stock despite knowing, among other things, that the Company was misleading the market regarding its revenues and net income between May 9, 2007 and April 17, 2008 by reporting as revenue orders it received for goods it could not timely deliver. The Company knew that when its misstatements were uncovered, its share price would drop precipitously. 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. The Company's share price dropped 32% the following day on extraordinary heavy trading volume.
The Law Offices of Howard G. Smith believes that the Company acted unfairly towards its employees and seeks to recover the money that they have lost on their investment in the Company's 401(k) Plan. If you were an employee of TomoTherapy Inc. (NASDAQ: TOMO) and are invested in the Company’s 401(k) Plan, please call the Law Offices of Howard G. Smith and speak to Mr. Smith directly regarding how he can help you, or complete the online questionnaire and Mr. Smith will promptly call you.
Law Offices of Howard G. Smith
3070 Bristol Pike, Suite 112
Bensalem, PA 19020
Telephone: (215) 638-4847
Facsimile: (215) 638-4867