The Cooper Companies, Inc. (COO) Investigation

Cooper is a global medical device company with two reporting segments. The largest – CooperVision -  manufactures and markets hydrogel lens products for contact lens wearers and accounted for roughly 67% of Cooper’s total consolidated sales in fiscal 2025.

The investigation is focused on the propriety of Cooper’s statements about the mechanics contributing to CooperVision’s revenue growth and its sustainability.

During Cooper’s June 4, 2026 Q2 2026 earnings call, management emphasized CooperVision’s “solid quarter, with revenues increasing 8%, or 4% organically” and guided for CooperVision full year organic revenue growth of 3.5% to 4.5%, emphasizing that “[f]or CooperVision […] [o]utside of Asia Pac, demand remains solid for premium products, including daily silicone hydrogel lenses as well as torics and multifocals.”

The next day, the price of Cooper shares traded almost 8% higher.

Investors received some troubling news on September 9, 2026, when the company reported its Q3 2026 financial results. In particular, Cooper’s management revealed “our legacy hydrogels were down double-digit across the board[,]” “the results in the Americas reflected CooperVision’s US channel inventory reductions[,]” and “[w]e expect CooperVision revenue of $692 million to $706 million down 2% to flat organically.” 

In response to an analyst’s question during the earnings call about whether the entirety of the reduced guide for CooperVision revenue was inventory-related, CEO Albert White III said, “it’s all destock […] [m]eaning the entire reason for the reduction in the revenue guidance for CooperVision was tied to just channel inventory.”

Another analyst expressed concern, asking “why are they destocking […] [d]id you guys have too much inventory in the channel from past efforts to kind of prop up numbers?”

The market did not take kindly to the developments and sent the price of Coopers shares down over 14% the next day to close at a 52-week low of $54.17, with several analysts reportedly downgrading their ratings and price targets.

FREQUENTLY ASKED QUESTIONS ABOUT THE CASE

What is the COO investigation about?

We are focused on whether Cooper was sufficiently transparent to investors about its CooperVision sales strategies.

WHAT SHOULD I DO?

I worked at COO. What should I do?

If you were an employee of COO, you may have valuable information that could be relevant to the investigation. Hagens Berman is one of the nation’s top whistleblower law firms, and has successfully represented many individuals who come forward with information regarding corporate malfeasance. Under the new SEC Whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, contact Reed Kathrein at 844-916-0895 or [email protected].

There are multiple law firms participating, do I need to contact all of them?

No, you do not need to contact all participating law firms. Generally, class-action investigations and lawsuits are consolidated into a single case to streamline the legal process, and attorneys from only a few law firms are selected to serve in a leadership role on the consolidated case. Hagens Berman has a proven track record of being appointed to leadership roles in complex, multidistrict litigation regarding investor fraud and other consumer rights issues, and your claim will be handled by attorneys who have helped secure approximately $325 billion in class-action settlements on behalf of individuals who have suffered due to corporate malfeasance and the wrongdoing of other powerful institutions.

AM I ELIGIBLE?

What is the threshold amount to be eligible? What are “substantial” losses?

The threshold amount and the definition of "substantial" losses may vary depending on a number of factors specific to the case, including the size of the company, market cap, shares outstanding and who holds them and the damages alleged by the fraud. In general, to be eligible to participate in a class-action lawsuit, you must be able to demonstrate that you suffered financial losses as a result of the alleged wrongdoing and that your losses meet the criteria set by the court or law firm. Fill out the form and submit your losses.

CAN I PARTICIPATE?

Am I affected? What do I need to do to participate?

If you were an investor in COO, you may be affected and eligible to participate in the case. To determine your eligibility and potential involvement, fill out the form and submit your losses.

Can any COO investor participate?

In most class-action investigations and cases, any investor who meets the eligibility criteria, including purchasing the shares during the relevant period, can participate, regardless of the size of their investment. Fill out the form to find out your rights.

I bought on a non-U.S. Exchange. Can I participate?

No. This investigation only covers shares bought on a U.S. exchange, i.e. NASDAQ or NYSE. Fill out the form to find out your rights.

Am I included if I still hold my shares, or do I need to sell to participate?

Participation is based on purchasing shares during the relevant period, rather than your current holdings. Accordingly, you do not need to sell to participate. Fill out the form to find out your rights.