The RxSight securities class action lawsuit accuses the eye-implant maker and two of its top executives of misleading investors about demand for its Light Adjustable Lens system before the stock collapsed in 2025. The consolidated case, In re RxSight Securities Litigation, No. 8:25-cv-01596-FWS-KES, survived a motion to dismiss on May 27, 2026, and is now heading into discovery in the U.S. District Court for the Central District of California.1Bloomberg Law. RxSight Must Litigate Investor Suit Over Eye Lens System Demand
What Investors Are Alleging
The complaint targets RxSight, CEO Ron Kurtz, and former CFO Shelley Thunen. Plaintiffs say the executives told investors physician adoption of the Light Adjustable Lens was accelerating, that newer customer cohorts were embracing the technology faster than earlier ones, and that field teams were effectively supporting practices.2Robbins Geller Rudman & Dowd LLP. Complaint, Gémesi v. RxSight, Inc.
Internally, according to the complaint, the picture looked very different. The field sales organization was “inadequately structured and underperforming,” newer cohorts were adopting the system more slowly than earlier ones, and installing more Light Delivery Devices at practices was not producing the expected volume of lens procedures. When numbers started to soften, plaintiffs allege, the executives blamed macroeconomic conditions and competitor launches instead of disclosing operational failures they already knew about.2Robbins Geller Rudman & Dowd LLP. Complaint, Gémesi v. RxSight, Inc.
The complaint also alleges the defendants overstated patient outcomes, including claims about reductions in glare and halos, and misrepresented surgeon enthusiasm. Ophthalmologists had raised concerns that the lens system was time-intensive, required prolonged post-operative visits for adjustments, and could reduce surgeon profitability compared with conventional lenses.3TipRanks. RxSight Securities Lawsuit Advances After Court Denies Dismissal Bid
The Stock Drops That Triggered the Case
Investors point to two disclosures they say revealed the truth. On April 2, 2025, RxSight announced a decline in lens sales and cut its full-year 2025 revenue guidance by $24 million, citing a “softening” market. The stock fell about 38% the next day, from $26.12 to $16.21.4Simply Wall St. RxSight Stock Overview
The larger blow came on July 8, 2025. Second-quarter revenue had fallen 4% year-over-year to $33.6 million, Light Delivery Device sales had collapsed 45% sequentially to just 40 units, and lens sales had dipped 1% from the prior quarter. The company slashed its 2025 revenue guidance from $160–$175 million to $120–$130 million and announced a “commercial pivot” to rebuild its field support operation.5Investing.com. RxSight Stock Plunges After Slashing 2025 Revenue Guidance Shares fell another 28%. Kurtz told investors that “adoption challenges” were the “primary reason for the LDD stall.”6Levi & Korsinsky. RxSight, Inc. Securities Class Action Lawsuit Update By June 2026, the stock was trading around $4.73, a fraction of the $56 price at which the company had sold about 2.05 million shares in a May 2024 offering that raised roughly $115 million.7RxSight Investor Relations. RxSight Announces Closing of Its Public Offering of Common Stock
Who Is Being Sued and On What Claims
The named defendants are RxSight, Kurtz, and Thunen. Plaintiffs bring claims under Section 10(b) of the Securities Exchange Act and SEC Rule 10b-5 for fraudulent misrepresentation, plus Section 20(a) “control person” claims against Kurtz and Thunen individually.3TipRanks. RxSight Securities Lawsuit Advances After Court Denies Dismissal Bid
Insider stock sales figure prominently in the complaint. Public filings show Kurtz sold 189,000 shares in March and May 2024, and Thunen sold more than 121,000 shares in transactions between March and May 2024, while the company was publicly touting strong demand.8RedChip. RxSight Insider Transactions Thunen stepped down as CFO effective January 31, 2026. She described the exit as planned; BTIG analysts called it “unexpected” and linked it to “ongoing commercial challenges.”9Yahoo Finance. RxSight CFO Exit Raises Concerns
How the Case Got to Federal Court
The first complaint was filed on July 22, 2025, by investor Rumen Makaveev in the Central District of California, before Judge Fred W. Slaughter.1Bloomberg Law. RxSight Must Litigate Investor Suit Over Eye Lens System Demand A second suit, Gémesi v. RxSight, Inc., filed by Robbins Geller Rudman & Dowd, pushed the class period back to May 7, 2024, capturing the secondary offering and adding detailed allegations about the field organization.2Robbins Geller Rudman & Dowd LLP. Complaint, Gémesi v. RxSight, Inc.
The court consolidated the two actions on October 6, 2025, and plaintiffs filed a consolidated amended complaint on December 12, 2025.10SEC EDGAR. RxSight SEC Filing, Litigation Disclosure
What the May 2026 Ruling Decided
The defendants moved to dismiss the amended complaint on February 13, 2026. Judge Slaughter denied that motion in full on May 27, 2026, letting every claim proceed.1Bloomberg Law. RxSight Must Litigate Investor Suit Over Eye Lens System Demand
On scienter, the court found plaintiffs plausibly alleged the executives knew about weakening adoption while making optimistic statements. Judge Slaughter applied the “core operations” doctrine: because the lens system was essentially the whole business, senior leadership could not plausibly have missed the problems. The insider stock sales and the company’s “Study Patient” incentive program supported the inference of deliberate or reckless conduct.3TipRanks. RxSight Securities Lawsuit Advances After Court Denies Dismissal Bid
On falsity, the court rejected the defense that the challenged statements were corporate puffery or non-actionable opinions, holding that statements about specific business metrics are actionable when plaintiffs allege the speakers omitted contradictory internal data. The court also let stand claims that the defendants failed to disclose known trends and uncertainties in SEC filings, as required by Item 303 of Regulation S-K. Defendants were ordered to answer by June 9, 2026.3TipRanks. RxSight Securities Lawsuit Advances After Court Denies Dismissal Bid
Where the Case Stands Now
With the motion to dismiss denied, the litigation is entering discovery, the phase where documents are exchanged and depositions taken. No settlement has been reported. The stock closed at $4.73 on June 18, 2026, and the company has not named a permanent successor to Thunen.11Yahoo Finance. RxSight Historical Stock Prices Investors who bought RxSight shares during the class period beginning May 7, 2024 are the putative class; class certification has not yet been decided.