STAAR Surgical Shareholder Alert: Former SEC Attorney Willie Briscoe and Powers Taylor Investigate Possible Breaches of Fiduciary Duty by Officers and Directors

DALLAS--(BUSINESS WIRE)--Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a federal class action lawsuit has been filed against STAAR Surgical Company. (“STAAR” or “Company”) (NasdaqGM: STAA) and several officers and directors for their actions during the period of February 27, 2013 to June 30, 2014 (the “Class Period”).

Based upon the allegations in the class action, the firms are investigating additional legal claims against the officers and Board of Directors of STAAR. If you are an affected STAAR shareholder and want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, [phone], or via email at [e-mail], or Patrick Powers at Powers Taylor LLP, toll free [phone], or via e-mail at [e-mail]. There is no cost or fee to you.

In the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges, among other things, that defendants misrepresented and/or failed to disclose that the Company’s Monrovia Facility lacked sufficient systems and facilities for the manufacture, packing, storage and installation of the Company’s implantable lenses. It also did not have adequate procedures for documenting complaints, sterility testing, and maintaining required records. Due to these shortcomings, the Monrovia Facility was not following current good manufacturing practice requirements at all relevant times. According to the complaint, on June 30, 2014, the U.S. Food and Drug Administration (“FDA”) publicly released a Warning Letter related to an inspection of the Company’s Monrovia Facility, which occurred on February 10, 2014, and noted several regulatory violations. Upon release of this letter, the Company’s stock dropped.

The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.