Faruqi & Faruqi, LLP Announces Investigation of The Cooper Companies, Inc. (COO)
Faruqi & Faruqi, LLP, a leading national securities firm, is investigating potential securities fraud at The Cooper Companies, Inc. (“Cooper” or the “Company”) (NYSE: COO).
The investigation focuses on whether Cooper and its officers violated federal securities laws by failing to disclose the true significance of a Company product recall. First, in August 2011, the Company commenced a “limited voluntary” recall of its Avaira Toric line of contact lenses, intentionally downplaying the breadth and impact of its quality control problems – disclosing only that “a small number” of users had complained of “temporary hazy vision.”
Then, on November 15, 2011, Cooper was forced to disclose a much larger product recall and the true severity of potential injuries to many of the Company’s consumers. Upon learning of the actual extent of the Company’s production issues, product safety defects and harm to Cooper’s reputation and product marketability, Cooper’s stock price fell precipitously. The Company’s stock price fell roughly 12.8 percent from the previous day and closed at $56.64 per share on November 15.
If you purchased Cooper securities between March 4, 2011, and November 15, 2011, and would like to discuss your legal rights, contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com or firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Cooper’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.