LOS ANGELES--(BUSINESS WIRE)--Goldberg Law PC, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Psychemedics Corporation (“Psychemedics” or the “Company”) (Nasdaq: PMD). Investors who purchased or otherwise acquired shares between February 28, 2014 and January 30, 2017 inclusive (the “Class Period”), are encouraged to contact the firm in advance of the April 3, 2017 lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate. In addition, we encourage you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights free of charge. You can also reach us through the firm’s website at http://www.Goldberglawpc.com, or by email at email@example.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The complaint alleges that during the Class Period, Psychemedics made false and/or misleading statements and/or failed to disclose that: through its affiliate, Psychemedics Brasil Exames Toxicológicos Ltda. (“Psychemedics Brasil”), the Company engaged in anticompetitive conduct to maintain a monopoly over the Brazilian market in violation of the law; that the Company lacked effective internal controls over financial reporting; and that as a result of the above, the Company’s public statements were materially false and misleading. On January 31, 2017, Bloomberg reported that a Brazilian judge ordered Psychemedics Brasil to compensate Omega Laboratories, Inc. USA for losses caused by anticompetitive practices used for the purpose of “preventing other companies from accessing (the) market,” an indemnification that may cost the Company millions of dollars. When this news was announced to the public, shares of Psychemedics fell in value, causing investors harm.
Goldberg Law PC represents shareholders around the world and specializes in securities class actions and shareholder rights litigation.
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