Unassociated Document
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of
Report (Date of Earliest Event Reported): January 29,
2010
STAAR
Surgical Company
(Exact
name of registrant as specified in its charter)
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Delaware
(State
or other jurisdiction
of
incorporation)
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0-11634
(Commission
File Number)
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95-3797439
(I.R.S.
Employer
Identification
No.)
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1911
Walker Ave, Monrovia, California
(Address
of principal executive offices)
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91016
(Zip
Code)
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Registrant’s
telephone number, including area code: 626-303-7902
Not
Applicable
Former
name or former address, if changed since last report
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
7.01 Regulation FD Disclosure.
On
January 29, 2010, attorneys representing STAAR Surgical Company and Scott C.
Moody, Inc. (“SMI”) signed a stipulation extending the date for potential
enforcement and execution of judgment rendered in the case of Scott Moody, Inc.
v. STAAR Surgical Company (California Superior Court, County of Orange, Case No.
07CC10132) to April 30, 2010.A mediation has been scheduled to take place on
March 29 and 30, 2010. The purpose of the extension is to allow the parties
involved, including certain insurers, to attempt to negotiate a global
settlement, along with the matter entitled Parallax Medical Systems
v. STAAR Surgical Company (Orange County Case No. 07CC10136) and to
avoid the necessity of STAAR posting an appeal bond during the term of the
stipulation. Additionally, STAAR has stipulated to a 60-day extension of the
time for Parallax to file its opening brief in STAAR’s appeal of the Parallax
judgment. Under the terms of the stipulation, if STAAR cancels the mediation the
judgment will become immediately enforceable, and if any party other than STAAR,
SMI or Parallax cancels the mediation the extended stay will expire 30 days
after such cancellation.
Safe
Harbor
All
statements in this report that are not statements of historical fact are
forward-looking statements, including any statements of the intent, plans,
strategies or objectives of management, and including any statements regarding
mediation, appeals or other future legal proceedings. These
statements are subject to risks and uncertainties, including the risk that
mediation may be unsuccessful, and that any appeal of the Parallax or SMI
judgments may be denied or, if granted, may result in further proceedings that
give limited or no relief. If mediation is not successful, STAAR will
be required to pay the $6.5 million Moody judgment or to deposit a bond of 150%
of the judgment amount while appeal of the case is pending. STAAR’s risks
related to litigation, and its other material risks affecting the outcome
of forward-looking statements, are described in its Annual Report on Form 10-K
for the year ended January 2, 2009 and Quarterly Report on Form 10-Q for the
period ended October 2, 2009, under the caption “Risk Factors.” STAAR assumes no
obligation to update its forward-looking statements to reflect future events or
actual outcomes and does not intend to do so.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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February 1,
2010
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STAAR
Surgical Company
By:
/s/ Barry Caldwell
Barry
Caldwell
President
and Chief Executive Officer
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