The Cooper Companies, Inc. hit by Investor Lawsuit

Dec. 13, 2011 - PRLog -- An investor in shares of The Cooper Companies, Inc.  filed a lawsuit in the U.S. District Court for the Northern District of California against The Cooper Companies, Inc. over alleged Violations of Federal Securities Laws.

If you purchased shares of The Cooper Companies, Inc.  between March 4, 2011 and November 15, 2011, you have certain options and there are strict and short deadlines running. Deadline: Jan. 27, 2012.NYSE COO stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of those purchasing the common stock of the Cooper Companies, Inc between March 4, 2011 and November 15, 2011, that The Cooper Companies, Inc. and certain of its senior officers and directors violated the Securities Exchange Act of 1934 by issuing between March 4, 2011 and November 15, 2011 allegedly false and misleading statements concealing known quality control problems and process defects at Cooper Companies' new overseas contact lens manufacturing facilities.

Shares of the Cooper Companies, Inc. (Public, NYSE-COO) rose from as low as $11.52 in November 08 to over $80 in July.

Then on Aug. 19, 2011, the Cooper Companies, Inc. announced that its subsidiary CooperVision has initiated a recall on limited lots of Avaira® Toric contact lenses.  Cooper Companies, Inc said that the recall is limited solely to specific lots of Avaira Toric, and no other CooperVision product is involved in this recall.

NYSE-COO shares traded on August 19, 2011 as low as $66.22 per share but the increased in September to $83 per share.

On October 11, 2011 it was reported that the U.S. Food and Drug Administration (“FDA”) seemed ready to take action in the form of a public warning. A spokeswoman for the FDA reportedly said that “Absent prompt and adequate communication by CooperVision, the FDA may independently share its concerns about Avaira Toric contact lenses”. On October 13, 2011 the Cooper Companies announced that it continued to recall its Avaira® Toric Contact Lenses. Cooper Companies said it is cooperating with the United States Food and Drug Administration (“FDA”).

Then on November 15, 2011, the Cooper Companies, Inc.  announced that its subsidiary CooperVision has expanded its recall on limited lots of Avaira® Toric contact lenses to include limited lots of Avaira Sphere contact lenses.  Cooper Companies said CooperVision is expanding the recall because it identified certain lots of Avaira Sphere lenses that did not meet its updated quality requirements due to the level of a silicone oil residue.

Shares of the Cooper Companies (NYSE COO) fell from $83 per share in September 2011 to as low as $52.97 per share on November 15, 2011.

Those who purchased shares of The Cooper Companies, Inc.  between March 4, 2011 and November 15, 2011, have certain options and there are strict and short deadlines running. Deadline: Jan. 27, 2012.NYSE COO stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.