STAAR Surgical Investor Broadwood Calls on Board to Let Shareholders Vote on Alcon Deal

MT Newswires Live

Oct 24

STAAR Surgical (STAA) investor Broadwood Partners on Friday called on the company's board to allow shareholders to vote on Alcon's (ALC) takeover bid after the Oct. 23 special meeting was adjourned without holding the vote as planned.

Broadwood Partners, which owns 27.5% of STAAR Surgical's outstanding shares, said the adjournment "prolongs the uncertainty surrounding the company and risks further disrupting STAAR's momentum."

Broadwood also reiterated its call for the company to cancel the transaction and refocus on running the business.

Broadwood said it intends to seek the removal of STAAR Chair Elizabeth Yeu, Chief Executive Stephen Farrell, and Compensation Committee Chair Arthur Butcher, citing conflicts of interest and executive compensation concerns.

STAAR Surgical did not immediately respond to MT Newswires' request for comment.

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