NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of those who acquired STAAR Surgical Company (“STAAR” or the “Company”) (NASDAQ: STAA) securities during the period from February 26, 2020 through August 10, 2020 (the “Class Period”). Investors have until October 19, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
According to the Complaint, the Company made false and misleading statements to the market. STAAR is the subject of a report by investment analyst J Capital which alleges that the Company has overstated its sales in China by at least one-third, “meaning all of the Company’s $14 mln in 2019 profit is fake.” The report, based on extensive interviews and research, states that the Company reports fake sales numbers and then marks up marketing costs in a scheme to hide “phantom” revenue. Based on this news, shares of STAAR fell by 6% on August 11, 2020, damaging investors.
If you acquired STAAR securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney at 212-371-6600, by email at firstname.lastname@example.org, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney’s website: www.kmllp.com.
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