PR Newswire | Aug 21, 2020 01:03PM EDT

Fraud

08/21 12:02 CDT

Investor Alert: Kaplan Fox Investigates STAAR Surgical For Potential Securities Fraud NEW YORK, Aug. 21, 2020

NEW YORK, Aug. 21, 2020 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of STAAR Surgical Company ("STAAR" or the "Company") (NASDAQ: STAA). A complaint has been filed on behalf of investors that purchased or otherwise acquired STAAR common stock between February 26, 2020 and August 10, 2020, inclusive (the "Class Period").

On August 11, 2020, J Capital Research published a report in which it wrote that "[w]e think that STAAR Surgical has overstated sales in China by at least one-third, or $21.6 mln. That would mean that all of the company's $14 mln in 2019 profit is fake." The report continued that "[f]ake sales [in China] come at 100% margins and therefore translate directly into profit. That means that the roughly $21.6 mln in overstated Chinese sales in 2019 represent 152% of total company profit. In other words, without the fraud that we believe pervades the China business, STAAR is losing money."

On August 11, 2020, STAAR's stock price fell by $3.17 per share, about 6.2%, to close at $48.25 per share.

If you are a member of the proposed Class, you may move the court no later thanOctober 19, 2020 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling 646-315-9003.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, your rights, or your interests, please contact:

Donald R. HallKAPLAN FOX & KILSHEIMER LLP850 Third Avenue, 14th FloorNew York, New York 10022(646) 315-9003E-mail: dhall@@kaplanfox.com

Laurence D. KingKAPLAN FOX & KILSHEIMER LLP1999 Harrison Street, Suite 1560Oakland, California 94612(415) 772-4704Fax: (415) 772-4707E-mail: lking@kaplanfox.com

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SOURCE Kaplan Fox & Kilsheimer LLP