Ryan & Maniskas, LLP Announces Investigation of PhotoMedex, Inc.
WAYNE, Pa., Nov. 14, 2013 /PRNewswire/ -- Ryan & Maniskas, LLP announces that it is investigating potential claims against PhotoMedex, Inc. ("PhotoMedex" or the "Company") (NASDAQ: PHMD).
If you purchased shares of PhotoMedex and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/phmd. You may also email Mr. Maniskas at firstname.lastname@example.org.
The investigation is related to recent allegations that PhotoMedex has misrepresented the efficacy of its products and misled investors with regards to its financial performance.
Specifically, a recent article by TheStreetSweeper identified key areas of concern: (1) Certain insiders dogged by volatile and litigious history; (2) Key product, already down in the U.S. versus last year, rests on flimsy, weak studies; (3) Study shows key product, no!no! Hair Removal System, works no better than shaving. Further verified by significant consumer rancor. (4) Possible consumer class action litigation may be looming; (5) Disappointing earnings ahead; and (6) Massive insider selling precedes planned $30 million stock buyback.
As a result of the above, the stock is down $2.81 per share or 18.23% from its close of $15.41 per share on October 16, 2013.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide. To learn more about the class action process, please visit: www.rmclasslaw.com.
SOURCE Ryan & Maniskas, LLP