An investigation on behalf of current long-term investors in shares of STAAR Surgical Company (NASDAQ: STAA) was announced over potential breaches of fiduciary duties by certain officers and directors at STAAR Surgical Company.

The investigation by a law firm concerns whether certain STAAR Surgical Company (NASDAQ: STAA officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.

STAAR Surgical Company reported that its annual Total Revenue rose from $90.61 million in 2017 to $123.95 million in 2018 and that its Net Loss of $2.13 million in 2017 turned into a Net Income of $4.96 million in 2018.

On May 3, 2019 , STAAR disclosed receipt of a letter from the Center for Devices and Radiological Health of the U.S. Food and Drug Administration ('FDA') regarding its review of the Company's premarket approval application ('PMA') supplement regarding EVO/EVO+ Visian Implantable Collamer Lens for Myopia and EVO/EVO+ Visian Toric Implantable Collamer Lens for Myopia with Astigmatism. In the letter, the FDA specifically 'advised the Company that its PMA supplement lacked information, particularly the clinical evidence and analysis, that would permit the completion of the review and determination of whether there is a reasonable assurance of the device's safety and effectiveness for its intended use.'

Shares of STAAR Surgical Company (NASDAQ: STAA) declined to $21.70 per share on May 1, 2019.