ACTON, Mass., June 22, 2016 /PRNewswire/ -- Psychemedics Corporation (NASDAQ: PMD) announced that James P. Abely has joined the company as Associate General Counsel.
In this important role, Jim will be responsible for directing and managing all of the company's legal activities, including working closely with the company's clients. He will report to the company's CEO. Jim practiced law with the Boston firm of Goodwin Procter LLP following his graduation from the University of Virginia School of Law. His strong litigation background will be most helpful to Psychemedics and its clients.
Raymond C. Kubacki, Chairman and CEO of Psychemedics, stated, "We are extremely pleased to have Jim joining our team and heading up this important area in our company. Besides providing our clients with the most vigorous drug test available and outstanding client service, we also directly support our clients on any legal challenge. We not only provide a litigation packet and expert testimony, but also legal assistance for our client's legal team to come up to speed quickly. That's why this is such an important role in our company and beyond the normal role of Associate General Counsel."
Psychemedics Corporation is the world's largest provider of hair testing for the detection of drugs of abuse. The Company's patented process is used by thousands of U.S. and international clients, including over 10% of the Fortune 500 companies, for pre-employment and random drug testing. Major police departments, Federal Reserve Banks, schools, and other public entities also rely on our unique patented drug testing process. We strongly believe our drug testing method to be superior to any other product currently in use, including traditional urine testing and other hair testing methods.
The Psychemedics web site is www.psychemedics.com
Cautionary Statement for purposes of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995: From time to time, information provided by Psychemedics may contain forward-looking information that involves risks and uncertainties. In particular, statements contained in this release that are not historical facts (including but not limited to statements concerning earnings, earnings per share, revenues, cash flows, dividends, future business, growth opportunities (including an opportunity in Brazil), new accounts, customer base, market share, test volume, sales and marketing strategies, U.S. and foreign drug testing laws and regulations including effective dates thereof, required investments in plant, equipment and people and new test development) may be "forward looking" statements. Actual results may differ from those stated in any forward-looking statements. Factors that may cause such differences include but are not limited to risks associated with the development of markets for new products and services offered, costs of capacity expansion, U.S. and foreign government regulation, including but not limited to FDA regulations, Brazilian laws and regulations and projected implementation dates, proposed laws and regulations, R&D spending, competition (including, without limitation, competition from other companies pursuing the same growth opportunities) and general economic conditions and other factors disclosed in the Company's filings with the Securities and Exchange Commission. Information regarding testing volume for a partial quarter may not necessarily be an indicative of results to be expected for the full quarter or year. The forward-looking statements contained herein speak only of the Company's expectations as of the date of this press release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statement to reflect any change in the Company's expectations or any change in events, conditions, or circumstances on which any such statement is based.
Raymond C. Kubacki
Chairman, President and CEO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/james-p-abely-joins-psychemedics-corporation-as-associate-general-counsel-300288685.html
SOURCE Psychemedics Corporation