LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP reminds investors of STAAR Surgical Company (“STAAR” or the “Company”) (NASDAQ:STAA) that purchasers of STAAR securities between February 27, 2013 and June 30, 2014, inclusive (the “Class Period”), have until September 8, 2014, to file a motion to be appointed as lead plaintiff in the shareholder lawsuit.
STAAR, together with its subsidiaries, designs, develops, manufactures and sells implantable lenses for the eye and delivery systems to deliver lenses into the eye. The Complaint alleges that STAAR’s Monrovia, California, manufacturing facility lacked adequate methodologies and facilities for the manufacture, packing, storage and installation of the Company’s implantable lenses, lacked adequate procedures for documenting complaints, sterility testing and maintaining required records, and as a result was not in conformity with current good manufacturing practice requirements at all relevant times.
On June 30, 2014, the U.S. Food and Drug Administration released a Warning Letter, dated May 21, 2014, concerning an inspection of STAAR’s Monrovia facility 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 the Company’s implantable lenses are “not in conformity with the current good manufacturing practice requirements.” The FDA further advised STAAR that “failure to promptly correct these violations may result in regulatory action being initiated by the FDA without further notice.”
If you are a member of the Class described above, you may move the Court no later than September 8, 2014, to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Casey Sadler, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by toll-free telephone at (888) 773-9224 or by telephone at (310) 201-9150, by e-mail to email@example.com, or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
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