INVESTOR ALERT: Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against STAAR Su...
August 25 2014 - 10:32AM
Business Wire
Law Offices of Howard G. Smith reminds investors that all
purchasers of the securities of STAAR Surgical Company (“STAAR” or
the “Company”) (NASDAQ:STAA) 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 was not in
conformity with current good manufacturing practice requirements
because the facility: (1) lacked adequate methodologies and
facilities for the manufacture, packing, storage and installation
of the Company’s implantable lenses, and (2) lacked adequate
procedures for documenting complaints, sterility testing and
maintaining required records.
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.”
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, if you 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, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
Law Offices of Howard G. SmithHoward G. Smith, Esquire(215)
638-4847(888)
638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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