Staar Surgical Co.’s largest shareholder Broadwood Partners today announced that it notified the company’s board of directors its intention of calling a special meeting to remove several directors.
“It is clear to us that the Board no longer has the confidence of shareholders, and that new directors are needed to properly steward the Company and restore shareholder trust,” Broadwood founder and President Neal Bradsher said in a statement.
The shareholder vote to determine whether the company’s $1.5 billion sale to Alcon is scheduled to take place tomorrow.
Shares in Staar fell 3.3% to $25.82 and a $1.3 billion market cap.
