BOCA RATON, FL -- (Marketwired) -- 11/22/13 -- Saxena White P.A. has filed a securities fraud class action lawsuit in the United States District Court for the Eastern District of Pennsylvania against PhotoMedex, Inc. ("PhotoMedex" or the "Company") (NASDAQ: PHMD) on behalf of investors who purchased or otherwise acquired the common stock of the Company during the period from November 7, 2012 through November 14, 2013 (the "Class Period").
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.
You may obtain a copy of the Complaint and join the class action at www.saxenawhite.com.
If you purchased PhotoMedex stock between November 7, 2012 and November 14, 2013, inclusive, you may contact Lester Hooker (lhooker@saxenawhite.com) at Saxena White P.A. to discuss your rights and interests.
If you purchased PhotoMedex common stock during the Class Period of November 7, 2012 through November 14, 2013, and wish to apply to be the lead plaintiff in this action, a motion on your behalf must be filed with the Court no later than January 21, 2014. You may contact Saxena White P.A. to discuss your rights regarding the appointment of lead plaintiff and your interest in the class action. Please note that you may also retain counsel of your choice and need not take any action at this time to be a class member.
Saxena White P.A., located in Boca Raton, specializes in prosecuting securities fraud and complex class actions on behalf of institutions and individuals. Currently serving as lead counsel in numerous securities fraud class actions nationwide, the firm has recovered hundreds of millions of dollars on behalf of injured investors and is active in major litigation pending in federal and state courts throughout the United States.
Lester R. Hooker, Esq.
lhooker@saxenawhite.com
Saxena White P.A.
2424 North Federal Highway, Suite 257
Boca Raton, FL 33431
Tel: (561) 394-3399
Fax: (561) 394-3382
www.saxenawhite.com
