Cases
Psychemedics Corporation (NASDAQ: PMD)
Securities Class Action
Overview
Overview
- Date:
- 1/31/2017
- Company Name:
- Psychemedics Corporation
- Stock Symbol:
- PMD
- Status:
- Closed/Complete
NEW YORK, January 31, 2017 – Bragar Eagel & Squire, P.C. is investigating potential claims against Psychemedics Corporation (NASDAQ: PMD) concerning possible violations of the federal securities laws.
On January 31, 2017, news reports revealed that Psychemedics’s local representative, Psychemedics Brasil Exames Toxicologicos Ltda., was ordered to compensate Omega Laboratories, Inc. USA for losses caused by anticompetitive practices used for the purpose of “preventing other companies from accessing (the) market.” The ruling notes that Psychemedics used “cartel practices,” in an attempt to form a drug testing monopoly which included unenforceable and exclusive contracts with collection sites, “all with a view to limit the entry and operation of new companies in the market.” Following this news, Psychemedics shares declined $6.75 per share on January 31, 2017 to close at $18.87.
If you purchased or otherwise acquired Psychemedics securities and suffered a loss, have information, or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
On January 31, 2017, news reports revealed that Psychemedics’s local representative, Psychemedics Brasil Exames Toxicologicos Ltda., was ordered to compensate Omega Laboratories, Inc. USA for losses caused by anticompetitive practices used for the purpose of “preventing other companies from accessing (the) market.” The ruling notes that Psychemedics used “cartel practices,” in an attempt to form a drug testing monopoly which included unenforceable and exclusive contracts with collection sites, “all with a view to limit the entry and operation of new companies in the market.” Following this news, Psychemedics shares declined $6.75 per share on January 31, 2017 to close at $18.87.
If you purchased or otherwise acquired Psychemedics securities and suffered a loss, have information, or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.