Class Period: Jul 26, 2016 to Jan 31, 2017
Lead Plaintiff Deadline: Apr 3, 2017
Summary of Case:
A securities class action has been filed against Psychemedics Corporation (NASDAQ:PMD)on behalf of all persons who purchased or otherwise acquired shares of Psychemedics Corporation ("Psychemedics") (NASDAQ:PMD)between July 26, 2016 and January 31, 2017. This case has been filed in the USDC MA.
The complaint alleges that, among other allegations, throughout the Class Period Psychemedics issued materially false and/or misleading statements and/or failed to disclose that Psychemedics' Brazilian distributor, Psychemedics Brazil, was engaged in illegal anti-competitive practices and may be subject to further investigation by Brazil's Administrative Council for Economic Defense as a result of this conduct.
On January 31, 2017, Psychemedics issued a press release announcing that a Brazilian court had found Psychemedics Brazil in violation of anti-competition laws and is liable for millions in losses.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.