STAAR Surgical Co
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Health Care : Health Care Equipment & Supplies | Small Cap Growth
Company profile

STAAR Surgical Company designs, develops, manufactures and sells implantable lenses for the eye and delivery systems used to deliver the lenses into the eye. It operates in the ophthalmic surgical market segment. Its products are intraocular lenses used in cataract surgery and implantable collamer lenses used in refractive surgery. It manufactures lenses used in corrective or refractive surgery, and makes lenses for use in surgery that treats cataracts. As of December 29, 2017, the Company sold its products in over 75 countries, with distribution in the United States, Canada, Japan and Spain.

Postmarket

Last Trade
Delayed
$75.37
0.00 (0.00%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$75.45
Day's Change
0.36 (0.48%)
Bid close
--
Ask close
--
B/A Size
--
Day's High
75.54
Day's Low
72.83
Volume
(Light)
Volume:
223,053

10-day average volume:
471,089
223,053

STAAR Surgical Company: Last Days to Participate Actively in the Class Action Lawsuit

3:37 pm ET October 16, 2020 (Globe Newswire) Print

Investors with a $100,000 or more in losses are encouraged to contact the firm before October 19, 2020; click here to submit trade information

The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of STAAR Surgical Company (NASDAQ: STAA) investors that acquired shares between February 26, 2020 and August 10, 2020. Investors have until October 19, 2020 to seek an active role in this litigation.

Investors are encouraged to contact attorney Lesley F. Portnoy, to determine eligibility to participate in this action, by phone 310-692-8883 or email, or click here to join the case.

The investment analyst J Capital issued a report on August 11, 2020 on STAAR entitled "STAAR Surgical, Less Than Meets the Eye." It was alleged in the The J Capital report that the company overstated its sales in China by at least one third (or $21.6 mln), "meaning all of the company's $14 mln in 2019 profit is fake." The J Capital report - which was based on over 75 interviews with former employees, and extensive review of public documents, and site visits to China and Switzerland - concludes STAAR reports fake sales revenues by overstating sales and then marking up actual marketing costs to hide "phantom" revenue. The report found, in particular, that Aier Eye Hospital's financial statements indicate that it bought only about half as many lenses as STAAR reports.

On August 11, 2020, STAAR's stock price fell $3.17 per share, or 6%, on this news, to close at $48.25 per share, damaging investors.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 19, 2020.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm's founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.

Admitted CA and NY Bar

lesley@portnoylaw.com

310-692-8883

www.portnoylaw.com

Attorney Advertising

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