CooperVision parent faces inflated earnings allegations

CooperVision's parent company, The Cooper Companies, is facing a class action civil lawsuit for allegedly defrauding investors.

Milberg Weiss Bershad & Schulman, a Los Angeles-based law firm, filed the suit last week at a California federal district court.

It is trying to drum up support and has had the action endorsed by 'at least three other' law firms according to the Rochester Democrat & Chronicle, the local paper where CooperVision is based in New York state.

The lawsuit alleges that company management defrauded investors through erroneous accounting and making false projections about the company's financial performance in order to inflate its stock price.