NEW ORLEANS, July 9, 2014 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until September 8, 2014 to file lead plaintiff applications in a securities class action lawsuit against STAAR Surgical Company (Nasdaq:STAA), if they purchased the Company's securities during the period between February 27, 2013 and June 30, 2014, inclusive (the "Class Period"). This action is pending in the United States District Court for the Central District of California.
What You May Do
If you purchased shares of STAAR and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850, or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com) or KSF Partner Melinda Nicholson (melinda.nicholson@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by September 8, 2014.
About the Lawsuit
STAAR and certain of its executives are charged with issuing a series of materially false and misleading statements during the Class Period, violating federal securities laws.
On June 30, 2014, the U.S. Food and Drug Administration publicly released a Warning Letter, dated May 21, 2014, concerning an inspection of STAAR's Monrovia Facility which took place from February 10, 2014 to March 21, 2014, stating that there were several regulatory violations at the facility. The Warning Letter noted inadequacies with the manufacture, packing, storage and installation of the Company's implantable lenses and inadequate procedures for documentation, complaints, sterility testing, and record maintenance. The Warning Letter also threatened regulatory action.
On this news, the price of STAAR's shares plummeted by over 11%
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.