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Staar Surgical Company

Case Summary

Staar Surgical Company Securities Litigation

Case Summary

Case Status:    ONGOING    
On or around 10/29/2020 (Date of last review)

Filing Date: August 19, 2020

According to the Plaintiff's law firm press release, Staar Surgical Company has recently emphasized its revenue, sales growth, and market share in the Chinese market. STAAR attributed its success to its strategic partnerships, including with its customer AIER, a Chinese ophthalmology hospital group.

The Complaint alleges that during the Class Period, Defendants misrepresented and/or failed to disclose to investors that the Company was overstating and/or mischaracterizing: (1) its sales and growth in China; (2) its marketing spend; (3) its research and development expenses; and that as a result of the foregoing, (4) Defendants’ public statements were materially false and misleading at all relevant times.

On September 11, 2020, the Court issued an Order consolidating actions. On October 29, the Court issued an Order consolidating actions and appointing Lead Plaintiff and Counsel.

Company & Securities Information

Defendant: Staar Surgical Company

COMPANY INFORMATION:

Sector: Healthcare
Industry: Medical Equipment & Supplies
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: STAA
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.

First Identified Complaint

Nawaf Alwazzan, et al. v. Staar Surgical Company, et al.

COURT: C.D. California
DOCKET #: 20-CV-01533
JUDGE: Hon. James V. Selna
DATE FILED: 08/19/2020
CLASS PERIOD START: 02/26/2020
CLASS PERIOD END: 08/10/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Block & Leviton LLP (Boston)
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Complaint for Violations of the Federal Securities Laws; Class Action 08/19/2020
2 Order Consolidating Actions 09/11/2020
3 U.S. District Court Civil Docket 09/18/2020
4 (In Chambers) Order re Motion to Consolidate and Motions for Appointment of Lead Plaintiff and Lead Counsel 10/29/2020
5 U.S. District Court Civil Docket 10/30/2020

Reference Complaint

—Reference Complaint Complaint Related Data is not available

Related District Court Filings

—Related District Court Filings Data is not available
 
 

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