LOS ANGELES–(BUSINESS WIRE) – Glancy Prongay & Murray LLP ("GPM"), a leading national shareholder rights law firm, announced today that it is investigating on behalf of STAAR Surgical Company ("STAAR" or the "Company") (NASDAQ: STAA) has) investors regarding possible violations of the company against the Federal Securities Act
If you have suffered a loss on your STAAR investments or would like to inquire about whether you may be able to make claims to recover your loss under federal securities laws, you can find your contact information at https://www.glancylaw.com/cases / submit to staar-surgical -company /. You can also contact Charles H. Linehan of GPM at 310-201-9150, toll free at 888-773-9224, or email at Shareholder@glancylaw.com to learn more about your rights.
On Aug. 11, 2020, J Capital released a report claiming the company overestimated its sales in China by at least a third (or $ 21.6 million), "meaning the company's total profits are from $ 14 million is counterfeit in 2019. " Citing over 75 interviews with former employees, on-site visits to China and Switzerland, and a comprehensive review of public documents, the report concludes that STAAR reports fake sales by overestimating sales and then flagging actual marketing costs to " Hide Phantom "revenue. According to the report, STAAR's largest Chinese customer's financial statements indicate that it only bought about half as many lenses as the company reports.
In that news, the company's share price fell $ 3.17, or more than 6%, to close at $ 48.25 per share on August 11, 2020, hurting investors.
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Whistleblower: Individuals with nonpublic information about STAAR should consider their options to assist with the investigation or to use the SEC's whistleblower program. Under the program, whistleblowers who provide original information can receive rewards of up to 30 percent for each successful SEC recovery. For more information, please contact Charles H. Linehan at 310-201-9150 or 888-773-9224, or email Shareholders@glancylaw.com.
Glancy Prongay & Murray LLP is a leading law firm serving investors and consumers in securities disputes and other complex class action lawsuits. ISS Securities Class Action Services consistently rated GPM in its annual SCAS Top 50 report. In 2018, GPM was ranked one of the top five law firms for number of class action settlements for securities and one of the top six law firms for overall size of settlements in US dollars. With four offices across the country, GPM's nearly 40 attorneys have made breakthrough decisions, reclaiming billions of dollars for investors and consumers in securities, antitrust, consumer and employment lawsuits. GPM's attorneys have handled cases covering a wide range of corporate misconduct including cases involving financial adjustments, internal control weaknesses, earnings management, fraudulent profit policies and forward-looking statements, auditor misconduct, insider trading, FDA violations – Regulations and actions that lead to FDA and DOJ, investigations and many other forms of corporate misconduct. GPM's attorneys have worked on securities cases affecting nearly every industry and sector in the financial markets, including energy, consumer discretionary, consumer staples, real estate and REITs, finance, insurance, information technology, healthcare, biotechnology, cryptocurrency and medical devices, and many more . GPM's past successes have been extensively covered by leading news and industry publications such as the Wall Street Journal, Financial Times, Bloomberg Businessweek, Reuters, Associated Press, Barrons, Investors Business Daily, Forbes and Money.
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