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Week 5 IRAC Brief
Norma Chavez
Clara McKinnie
Delia Silva
Alejandra Solorzano
LAW/531
March 26, 2014 Michael John
Abstract
NovaStaar Investments, LLC is a private company that was formed in 1999 for the sole purpose of taking control of Staar Surgical Company by offering shareholders $15 per share. NovaStaar’s offer was rebuffed by the then board. Since then several shareholders and board members have approached NovaStaar about their interest in the company. NovaStaar will not reveal their level of interest in Staar until several issues have been resolved. Specifically the lawsuits involving former Chairman of the Board Andrew F. Pollet. Mr. Pollet filed a lawsuit against a former employee alleging libel and defamation of character. Mr. Pollet is also involved in other court action where he allegedly asked Staar board members to forgive debts he had incurred by borrowing money from Staar and where he was accused of pilfering from Staar and using company funds to pay his personal expenses.

Week 5 IRAC Brief
Methods for managing legal risk Society must balance business interest and injury to prevent legal liability. To minimize liability of legal risk the business and the individual must first understand the process. Once the knowledge has been obtained then the necessary steps can be taken to eliminate and reduce the effects of the risks involved in order to prepare accordingly.
Issues
On June 3, 1993 in Texas, Novastaar Investments, LLC, an entrepreneurial medical device company, became a domestic limited liability company. Key role players in the company are Lamar F. Laster, Treasurer, Director, President, and Patricia G. Laster as the Director, Secretary, and Vice President. The superior court of California litigation lawsuit is between Andrew F. Pollet (Chairman) v. Richard Leza (former Vice President) involving NovaStaar

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