Investor Files Suit against CooperVision

"The Shareholders Foundation, Inc. announces that a current investor in shares of the Cooper Companies, Inc. (COO) filed a lawsuit in State Court against directors at Cooper Companies over alleged breaches of fiduciary duties in connection with the recall of Avaira Toric and Avaira Sphere contact lenses," according to MSNBC. "The plaintiff alleges that defendants intentionally downplayed the breadth and impact of its quality control problems. By October 11, 2011, so the lawsuit, the Food and Drug Administration would step in and issue a Class I warning and began pressuring the Cooper Companies to provide clear notice to the public of the reasons for the recall of nearly 780,000 of its Avaira Toric lenses and the seriousness of the potential injuries." Read more.