GlobeNewswire Inc | Aug 20, 2020 03:27PM EDT

August 20, 2020

NEW YORK and SAN DIEGO, Aug. 20, 2020 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP (Wolf Haldenstein) announces that a federal securities class action lawsuit has been filed on behalf of shareholders of STAAR Surgical Company (NASDAQ: STAA) (STAAR) in the United States District Court for the Central District of California. Investors who purchased STAAR shares between February 26, 2020 and August 10, 2020 (Class Period), inclusive, and suffered losses, may contact Wolf Haldenstein to learn about your rights in this litigation.

All investors who purchased shares ofSTAAR Surgical Companyand incurred losses are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.

If you have incurred losses in the shares of STAAR Surgical Company,you may,no later than October 19, 2020, request that the Court appoint you lead plaintiff of the proposed class.

CLICK HERE TO JOIN THIS CASE

Recently, STAAR has emphasized its revenue, sales growth, and market share in the Chinese market. STAAR attributed its success to its strategic partnerships, including with its customer AIER, a Chinese ophthalmology hospital group.

On August 11, 2020, analyst J Capital Research Limited (J Capital) published a report calling into question STAARs purported success in China. J Capital accused STAAR of overstating its sales in China by at least one-third (or $21.6 million), meaning all of the companys $14 mln in 2019 profit is fake. The report is based on over 75 interviews conducted by J Capital, as well as visits to STAAR locations in China and Switzerland. In particular, J Capitals report concluded that AIERs financial statements indicate that it bought only about half as many lenses as STAAR reported. On this news, STAAR shares fell drastically.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

Contact:

Wolf Haldenstein Adler Freeman & Herz LLP Kevin Cooper, Esq.Gregory Stone, Director of Case and Financial AnalysisEmail: gstone@whafh.com, kcooper@whafh.comor classmember@whafh.comTel: (800) 575-0735 or (212) 545-4774

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