RxSight(US:RXST) Globenewswire·2025-09-09 21:08Core Viewpoint - A class action lawsuit has been filed against RxSight, Inc. for allegedly making false statements and failing to disclose significant challenges affecting its business performance, leading to a substantial drop in stock price [3][4]. Company Overview - RxSight, Inc. is a commercial-stage medical technology company that specializes in developing, manufacturing, and selling light adjustable intraocular lenses (LAL) used in cataract surgery [2]. Allegations of the Lawsuit - The lawsuit claims that RxSight faced adoption challenges and structural issues that negatively impacted sales and utilization of its products [3]. - It is alleged that the demand for RxSight's products was overstated, and the company was unlikely to meet its previously issued financial guidance for fiscal year 2025 [3]. Financial Impact - On July 8, 2025, RxSight reported preliminary second-quarter 2025 financial results showing significant declines in Light Delivery Device (LDD) sales, LAL utilization, and overall revenue [4]. - The company reduced its full-year 2025 guidance by approximately $42.5 million at the midpoint, with the CEO acknowledging that adoption challenges were a primary reason for the stall in LDD sales [4]. - Following this announcement, RxSight's stock price fell nearly 38% [4].