Case Page

 

Case Status:    DISMISSED    
On or around 11/07/2017 (Court's order of dismissal)

Filing Date: February 02, 2017

According to the law firm press release, Psychemedics Corporation provides patented, FDA-cleared services for the detection of drug abuse through the analysis of hair samples. The Company’s tests provide quantitative information that can indicate the approximate amount of drug ingested, as well as historical data, which can show a pattern of individual drug use over a longer period of time.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) 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; (ii) in turn, Psychemedics lacked effective internal controls over financial reporting; and (iii) as a result of the foregoing, Psychemedics’ public statements were materially false and misleading at all relevant times.

An amended complaint was filed on June 2, 2017.

On November 7, 2017, the Court granted Defendants' Motion to Dismiss with prejudice.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Medical Equipment & Supplies
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: PMD
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. Massachusetts
DOCKET #: 17-CV-10186
JUDGE: Hon. Richard G. Stearns
DATE FILED: 02/02/2017
CLASS PERIOD START: 07/26/2016
CLASS PERIOD END: 01/31/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Holzer & Holzer, LLC
    1117 Perimeter Center West, Suite E-107, Holzer & Holzer, LLC, GA 30338
    770.392.0090 770.392-0029 · mfistel@holzerlaw.com
  2. Levi & Korsinsky (Stamford)
    733 Summer Street, Suite 304, Levi & Korsinsky (Stamford), CT 06901
    203-992-4523 ·
No Document Title Filing Date
COURT: D. Massachusetts
DOCKET #: 17-CV-10186
JUDGE: Hon. Richard G. Stearns
DATE FILED: 06/02/2017
CLASS PERIOD START: 02/10/2014
CLASS PERIOD END: 01/31/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Holzer & Holzer, LLC
    1117 Perimeter Center West, Suite E-107, Holzer & Holzer, LLC, GA 30338
    770.392.0090 770.392-0029 · mfistel@holzerlaw.com
  2. Hutchings, Barsamian, Mandelcorn & Zeytoonian, LLP

    ·
  3. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date
No Document Title Filing Date