SOURCE: Stull, Stull & Brody

February 17, 2006 13:16 ET

Stull, Stull & Brody Announces Class Action Against The Cooper Companies, Inc.

NEW YORK, NY -- (MARKET WIRE) -- February 17, 2006 --Notice is hereby given that a class action has been commenced in the United States District Court for the Central District of California on behalf of all persons who purchased or acquired the publicly traded securities of The Cooper Companies, Inc. (NYSE: COO) ("Cooper" or the "Company") from July 29, 2004 through November 21, 2005 inclusive (the "Class Period"). Also included are all those who acquired Cooper through its acquisition of Ocular Sciences, Inc. ("Ocular").

Stull, Stull & Brody has substantial experience representing employees who suffered losses from purchases of their employer's stock in their 401(k) plans. If you bought Cooper's stock through your Cooper retirement account and have information or would like to learn more about these claims, please contact us.

The complaint alleges defendants violated federal securities laws by issuing a series of materially false statements regarding Cooper's business condition. Specifically, defendants failed to disclose that: (i) Cooper improperly accounted for assets acquired in the Ocular merger, as reported in the Proxy Statement, by misclassifying intangible assets as tangible, which had the effect of lowering amortization expense; (ii) Cooper's aggressive earnings guidance reflected the improper accounting for intangible assets and was inflated by the amount of the understated amortization expense; (iii) the merger synergies touted by defendants were unrealistic; (iv) Ocular had stuffed the channel with its Biomedics products; (v) Cooper's lack of a two-week silicone hydrogel product would prevent it from meeting its aggressive growth targets for 2005 and beyond, contrary to defendants' repeated representations that the Company's Proclear product was competing favorably against the silicone hydrogel products; and (vi) Cooper and Ocular in fact competed in the two-week lens market.

When the truth emerged on November 21, 2005 and November 22, 2005, Cooper fell $21 per share, or 29%, to close at $51.47 per share on November 22, 2005. During the Class Period, insiders sold 1,970,233 shares of common stock for proceeds of $141,492,613.

If you are a member of the class, you may request that the Court appoint you as lead plaintiff by no later than April 17, 2006. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Stull, Stull & Brody, or other counsel of your choice, to serve as your counsel in this action. Stull, Stull & Brody has litigated many class actions for violations of securities laws in federal courts over the past 30 years and has obtained court approval of substantial settlements on numerous occasions. Stull, Stull & Brody maintains offices in both New York and Los Angeles.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Tzivia Brody, Esq. at Stull, Stull & Brody by e-mail at SSBNY@aol.com, by calling toll-free 1-800-337-4983, or by fax at 212/490-2022, or by writing to Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017. You can also visit our website at www.ssbny.com.

Contact Information

  • Tzivia Brody, Esq.
    Stull, Stull & Brody
    Email Contact
    1-800-337-4983
    Fax: 212/490-2022