NEW YORK, Feb. 1, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Psychemedics Corporation ("Psychemedics" or the "Company") (NYSE: PMD). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Psychemedics and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On January 31, 2017, it was announced that on January 20, 2017, a Brazilian judge had ordered Psychemedics' local representative in Brazil, Psychemedics Brasil Exames Toxicologicos Ltda., to compensate Omega Laboratories, Inc. USA for losses caused by anticompetitive practices used for the purpose of "preventing other companies from accessing (the) market," an indemnification that could cost the Company millions of dollars.
On this news, Psychemedics' share price fell $6.75, or 26.35%, to close at $18.87 on January 31, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
SOURCE Pomerantz LLP