The Shareholders Foundation announces that a deadline is coming up on September 8, 2014 in the lawsuit filed for certain investors of STAAR Surgical Company (NASDAQ:STAA) over alleged securities laws violations by STAAR Surgical Company.
Investors who purchased shares of STAAR Surgical Company (NASDAQ:STAA) have certain options and there are strict and short deadlines running. Deadline: September 8, 2014. STAAR Surgical Company (NASDAQ:STAA stockholders should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
According to the complaint filed in the U.S. District Court for the Central District of California the plaintiff alleges on behalf of purchasers of STAAR Surgical Company (NASDAQ:STAA) common shares between February 27, 2013 and June 30, 2014, that the defendants violated Federal Securities Laws under the Securities Exchange Act of 1934. More specifically, the plaintiff claims that defendants between February 27, 2013 and June 30, 2014 made false and/or misleading statements and/or failed to disclose that STAAR Surgical Company’s Monrovia Facility lacked adequate methodologies and facilities for the manufacture, packing, storage and installation of the Company’s implantable lenses, that STAAR Surgical Company’s Monrovia Facility lacked adequate procedures for documenting complaints, sterility testing, and maintaining required records, and that as a result of the foregoing, the Monrovia Facility was not in conformity with current good manufacturing practice requirements at all relevant times.
On July 1, 2014, the U.S. Food and Drug Administration (“FDA”) released a copy of a warning letter that it issued STAAR Surgical Company on May 21, 2014 concerning an inspection of STAAR Surgical Company’s Monrovia Facility which took place from February 10, 2014 to March 21, 2014. The FDA letter noted several regulatory violations at the facility and stated that, among other things, “the methods used in, or the facilities or controls used for” manufacture, packing, storage or installation of STAAR Surgical Company’s implantable lenses are “not in conformity with the current good manufacturing practice requirements.” Shares of STAAR Surgical Company declined from $19.35 per share in April 2014 to $10.47 per share on August 7, 2014.
On September 2, 2014, NASDAQ:STAA shares closed at $11.69 per share.
Those who purchased shares of STAAR Surgical Company (NASDAQ:STAA) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego