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Copyright ©2011 Levi & Korsinsky, LLP
New York
Washington, DC
| The Cooper Companies, Inc. |
| The Cooper Companies, Inc. (NYSE: COO) shareholder litigation in connection with alleged securities fraud |
Levi & Korsinsky announces that a class action
lawsuit has been commenced in the United States
District Court for the Northern District of New York
on behalf of investors who purchased The Cooper
Companies, Inc. (“Cooper” or the “Company”)
lawsuit has been commenced in the United States
District Court for the Northern District of New York
on behalf of investors who purchased The Cooper
Companies, Inc. (“Cooper” or the “Company”)
(NYSE: COO) common stock between March 4, 2011 and November 15, 2011 (the “Class Period”).
The complaint alleges that Cooper and certain of its executives issued materially false and
misleading statements concerning quality control issues and manufacturing process defects in the
Company’s CooperVision contact lens operations. On August 19, 2011, Cooper announced a
“voluntary recall on limited lots” of its contact lenses due to a “small number of complaints of
temporary hazy vision” by consumers. Upon increased pressure from the FDA to further publicize
the recall, Cooper issued a second announcement on October 13, 2011. Finally, on November 15,
2011, Cooper was forced to announce the expansion of the recall into its other lines; the Company
also disclosed that it reserved more than $23 million for recall related liabilities. As a consequence,
the price of Cooper's common stock price fell from a closing price of $64.95 per share on
November 14, 2011, to a closing price of $56.64 per share the following day.
If you suffered a loss in Cooper you have until January 27, 2012 to request that the Court appoint
you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead
plaintiff.
The complaint alleges that Cooper and certain of its executives issued materially false and
misleading statements concerning quality control issues and manufacturing process defects in the
Company’s CooperVision contact lens operations. On August 19, 2011, Cooper announced a
“voluntary recall on limited lots” of its contact lenses due to a “small number of complaints of
temporary hazy vision” by consumers. Upon increased pressure from the FDA to further publicize
the recall, Cooper issued a second announcement on October 13, 2011. Finally, on November 15,
2011, Cooper was forced to announce the expansion of the recall into its other lines; the Company
also disclosed that it reserved more than $23 million for recall related liabilities. As a consequence,
the price of Cooper's common stock price fell from a closing price of $64.95 per share on
November 14, 2011, to a closing price of $56.64 per share the following day.
If you suffered a loss in Cooper you have until January 27, 2012 to request that the Court appoint
you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead
plaintiff.
