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Monrovia Companies: Good Earnings for AeroVironment; STAAR Surgical in Class Action Suit


~ For its fourth quarter ended April 30, Tim Conver, CEO of Monrovia's AeroVironment, reported: "An 87 percent increase in diluted earnings per share on an adjusted basis, the achievement of our financial and operating objectives and the delivery of solid results that exceeded our guidance for fiscal 2014." http://goo.gl/SQQDyA

~ Pomerantz Law Firm has filed a class action lawsuit on behalf of shareholders against STAAR Surgical, of Monrovia, charging that "Defendants made false and/or misleading statements and/or failed to disclose that the Company's Monrovia Facility: (i) lacked adequate methodologies and facilities for the manufacture, packing, storage and installation of the Company's implantable lenses; (ii) lacked adequate procedures for documenting complaints, sterility testing, and maintaining required records; and (iii) as a result of the foregoing, the Monrovia Facility was not in conformity with current good manufacturing practice requirements at all relevant times." http://goo.gl/hcPcSn

- Brad Haugaard

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