NEW YORK, Aug. 13, 2020 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of STAAR Surgical Company ("STAAR" or the "Company"). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether STAAR and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On August 11, 2020, research firm J Capital published a report that called into question STAAR's representations with respect to its purported success in the Chinese market, accusing the Company of overstating its sales in China by at least one-third (or $21.6 million). Citing over 75 interviews with former employees, site visits to China and Switzerland, and an extensive review of public documents, the J Capital report asserted that STAAR has reported fake sales revenues by overstating sales and then marking up actual marketing costs to hide "phantom" revenue.
On this news, STAAR's stock price fell $3.17 per share, or 6.16%, to close at $48.25 per share on August 11, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980
SOURCE Pomerantz LLP