Ryan & Maniskas, LLP Files Class Action Lawsuit Against PhotoMedex, Inc.

WAYNE, Pa., Dec. 6, 2013 /PRNewswire/ -- Ryan & Maniskas, LLP announces that it has filed a class action lawsuit in the United States District Court for the Eastern District of Pennsylvania on behalf of purchasers of PhotoMedex, Inc. ("PhotoMedex" or the "Company") (NASDAQ: PHMD) common stock during the period between November 7, 2012 through November 14, 2013 (the "Class Period").

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For more information regarding this class action suit, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at rmaniskas@rmclasslaw.com or visit: www.rmclasslaw.com/cases/phmd.  

PhotoMedex is a skin health company providing integrated disease management and aesthetic solutions to dermatologists, professional aestheticians and consumers.

The complaint brings forth claims for violations of the Securities Exchange Act of 1934. The Complaint alleges that throughout the Class Period, Defendants made 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) the effectiveness of the Company's key product, the no!no! device, rested on flimsy, weak studies; (ii) a more credible study raised serious doubts as to the effectiveness of the Company's key product, and in fact showed that no!no! works no better than shaving; (iii) the Company materially overstated the prospects for the no!no! device in the Japanese market; and (iv) as a result of the above, the Company's financial statements, assurances and expectations with regard to the Company's growth, operations and business prospects were false and misleading at all relevant times.

If you are a member of the class, you may, no later than January 21, 2014, request that the Court appoint you as lead plaintiff of the class.  A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Under certain circumstances, one or more class members may together serve as "lead plaintiff."  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff.  You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.

For more information about the case or to participate online, please visit: www.rmclasslaw.com/cases/phmd or contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218, or by e-mail at rmaniskas@rmclasslaw.com.  For more information about class action cases in general or to learn more about Ryan & Maniskas, LLP, please visit our website: www.rmclasslaw.com.

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.

CONTACT:

Ryan & Maniskas, LLP


Richard A. Maniskas, Esquire


995 Old Eagle School Rd., Suite 311


Wayne, PA 19087


484-588-5516


877-316-3218


www.rmclasslaw.com/cases/phmd   


rmaniskas@rmclasslaw.com

SOURCE Ryan & Maniskas, LLP



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