LOS ANGELES–(BUSINESS WIRE)–$STAA #STAA—The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of STAAR Surgical Company (“STAAR” or “the Company”) (NASDAQ: STAA) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. STAAR is the subject of a report by investment analyst J Capital titled, “STARR Surgical, Less Than Meets the Eye.” The report alleges that the Company has overstated its sales in China by at least one-third, “meaning all of the Company’s $14 mln in 2019 profit is fake.” The report, based on extensive interviews and research, states that the Company reports fake sales numbers and then marks up marketing costs in a scheme to hide “phantom” revenue. Based on this news, shares of STAAR fell by 6% on August 11, 2020, damaging investors.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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