The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the District of Massachusetts on behalf of investors who purchased Psychemedics Corporation (NASDAQ: PMD) securities between February 28, 2014 and January 30, 2017.
According to the complaint, 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 suffered a loss in Psychemedics you have until April 3, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
To receive more information, please fill out the form.