IRVINE, Calif.--(BUSINESS WIRE)--Khang & Khang LLP (the “Firm”) announces 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 purchased shares of Psychemedics during the Class Period, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or via e-mail at firstname.lastname@example.org.
There has been no class certification in this case. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member.
According to the Complaint, 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 Psychemedics 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.
If you wish to learn more about this lawsuit, or if you have questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or via e-mail at email@example.com.
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