| Company: | STAAR Surgical Company |
| Ticker Symbol: | NASD: STAA |
| Class Period: | April 3, 2003 to January 6, 2004 |
| Date Filed: | Sep-24-04 |
| Lead Plaintiff Deadline: | Nov-19-04 |
| Court: | District, NM |
| Allegations: |
A lawsuit seeking class action status was filed in the United States District Court for the District of New Mexico on behalf of all persons (the "Class") who purchased the
securities of STAAR Surgical Company ("STAAR" or the "Company") (Nasdaq: STAA)
between April 3, 2003 and January 6, 2004 inclusive (the "Class Period"). The
Complaint names STAAR and David Bailey, the Company's President and Chief
Executive Officer, as Defendants.
The Complaint alleges that, during the Class Period, Defendants violated Sections 10(b) and 20(a) of the Securities Act of 1934 and Rule 10b-5 promulgated thereunder. Specifically, the Complaint alleges that, during the Class Period, the Defendants failed to disclose significant problems with the manufacture of STAAR's premier product, the ICL (implantable contact lenses), and injuries resulting from the use of STAAR's products. On January 6, 2004, the U.S. Food & Drug Administration ("FDA") website posted a warning letter to the Company, dated December 22, 2003, concerning serious violations of manufacturing standards and inadequate reporting relating to the ICL. The news caused the share price of STAAR common stock to fall to $9.22 per share, almost 18% below the previous day's closing price.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
The Complaint alleges that, during the Class Period, Defendants violated Sections 10(b) and 20(a) of the Securities Act of 1934 and Rule 10b-5 promulgated thereunder. Specifically, the Complaint alleges that, during the Class Period, the Defendants failed to disclose significant problems with the manufacture of STAAR's premier product, the ICL (implantable contact lenses), and injuries resulting from the use of STAAR's products. On January 6, 2004, the U.S. Food & Drug Administration ("FDA") website posted a warning letter to the Company, dated December 22, 2003, concerning serious violations of manufacturing standards and inadequate reporting relating to the ICL. The news caused the share price of STAAR common stock to fall to $9.22 per share, almost 18% below the previous day's closing price.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
If you feel you qualify for damages or remedies that might be awarded in this class action please fill in our form on the right to submit your complaint.
If your injustice does not match the complaint described above, please use this form to register your complaint. Thank you.
