|[July 31, 2014]
STAAR Surgical Shareholder Alert: Former SEC Attorney Willie Briscoe and Powers Taylor Investigate Possible Breaches of Fiduciary Duty by Officers and Directors
DALLAS --(Business Wire)--
Former United States Securities and Exchange Commission attorney Willie
Briscoe, founder of The
Briscoe Law Firm, PLLC, and the securities litigation firm of Powers
Taylor LLP announce that a federal class action lawsuit has been
filed against STAAR Surgical Company. ("STAAR" or "Company") (NasdaqGM:
STAA) and several officers and directors for their actions during the
period of February 27, 2013 to June 30, 2014 (the "Class Period").
Based upon the allegations in the class action, the firms are
investigating additioal legal claims against the officers and Board of
Directors of STAAR. If you are an affected STAAR shareholder and want to
learn more about the lawsuit or join the action, contact Willie Briscoe
at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com,
or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, or via
e-mail at firstname.lastname@example.org.
There is no cost or fee to you.
In the complaint, the defendants are alleged to have violated certain
provisions of the Securities Exchange Act of 1934. Specifically, the
complaint alleges, among other things, that defendants misrepresented
and/or failed to disclose that the Company's Monrovia Facility lacked
sufficient systems and facilities for the manufacture, packing, storage
and installation of the Company's implantable lenses. It also did not
have adequate procedures for documenting complaints, sterility testing,
and maintaining required records. Due to these shortcomings, the
Monrovia Facility was not following current good manufacturing practice
requirements at all relevant times. According to the complaint, on June
30, 2014, the U.S. Food and Drug Administration ("FDA") publicly
released a Warning Letter related to an inspection of the Company's
Monrovia Facility, which occurred on February 10, 2014, and noted
several regulatory violations. Upon release of this letter, the
Company's stock dropped.
Briscoe Law Firm, PLLC is a full service business litigation,
commercial transaction, and public advocacy firm with more than 20 years
of experience in complex litigation and transactional matters.
Taylor LLP is a boutique litigation law firm that handles a variety
of complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits,
and security class actions.
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