Lawsuit Overview
June 10, 2013 - The court entered a judgement in favor of the defendants.
May 31, 2013 - The court granted defendants' motion to dismiss and dismissed the case without leave to amend.
March 6, 2013 - Defendants filed a motion to dismiss.
February 4, 2013 - The lead plaintiff filed a second amended consolidated complaint on behalf of investors who purchased The Cooper Companies Inc (NYSE: COO) common shares between August 19, 2011 and November 15, 2011. The plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between August 19, 2011 and November 15, 2011.
January 7, 2013 - The court granted defendants' motion to dismiss with leave to amend.
June 1, 2012 - Defendants filed a motion to dismiss.
May 4, 2012 - The lead plaintiff filed an amended consolidated complaint.
February 29, 2012 - Lead plaintiff and lead counsel were appointed and all cases were consolidated.
January 27, 2012 - Lead plaintiff motions were filed.
November 28, 2011 - An investor in shares of The Cooper Companies Inc (NYSE: COO) 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 in connection with certain allegedly false and misleading statements made between March 4, 2011 and November 15, 2011.
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 (NYSE: COO) rose from as low as $11.52 in November 2008 to over $80 in July.
Then on August 19, 2011, The Cooper Companies Inc announced that its subsidiary CooperVision has initiated a recall on limited lots of Avaira® Toric contact lenses. The 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.
The Cooper Companies Inc (NYSE: COO) shares traded on August 19, 2011 as low as $66.22 per share but then 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. The Cooper Companies Inc said it is cooperating with the United States Food and Drug Administration (“FDA”).
Then on November 15, 2011, The Cooper Companies Inc (NYSE: COO) 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. The Cooper Companies Inc 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.