Navigation Links
Shareholder Alert: Pomerantz Law Firm has filed a Class Action Against Biolase, Inc. and Certain Officers - BIOL
Date:8/26/2013

NEW YORK, Aug. 26, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP has filed a class action lawsuit against Biolase, Inc.  ("Biolase" or the "Company") (NASDAQ: BIOL) and certain of its officers.  The class action, filed in United States District Court, Central District of California, and docketed under SACV 13-1317-DMG, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired securities of Biolase between November 5, 2012 and August 7, 2013 both dates inclusive (the "Class Period"). This class action seeks to recover damages against the Company and certain of its officers and directors as a result of alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.

If you are a shareholder who purchased Biolase securities during the Class Period, you have until October 22, 2013 to ask the Court to appoint you as Lead Plaintiff for the class.  A copy of the Complaint can be obtained at www.pomerantzlaw.com.   To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, x237. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased.

Biolase is a biomedical company that develops, manufactures, and markets lasers in dentistry and medicine and also markets and distributes dental imaging equipment, including cone beam digital x-rays and CAD/CAM intra-oral scanners.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business and operations. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company was facing near term solvency issues; (ii) the Company faced severe liquidity problems; (iii) the Company's sales were not as strong as reported; and (iv) as a result of the foregoing, the Company's financial statements were false and misleading at all relevant times.

On August 9, 2013, the Company announced in its quarterly report for the period ending June 30, 2013, that Biolase was in breach if its financial covenants related to its lines of credit.  On this news, shares of Biolase declined $1.61 per share, more than 47%, to close at 1.81 per share on August 13, 2013.

Then on August 14, 2013, an analyst report was published on seekingalpha.com which criticized the Company for misleading investors regarding the extent of its solvency problems as well as providing the market with false guidance regarding the Company's sales and the state of adoption of the Company's products by practitioners.  On this news, shares of Biolase declined $0.61 per share, more than 33%, to close at 1.20 per share on August 14, 2013.

The Pomerantz Firm, with offices in New York, Chicago, Florida, and San Diego, 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 70 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.

CONTACT:
Robert S. Willoughby
Pomerantz Grossman Hufford Dahlstrom & Gross LLP
rswilloughby@pomlaw.com


'/>"/>
SOURCE Pomerantz Grossman Hufford Dahlstrom & Gross LLP
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Acquisition of Onyx Pharmaceuticals, Inc. by Amgen Inc. May Not Be in the Best Interests of Onyx Pharmaceuticals, Inc. Shareholders
2. Concord Medical Announces Acquisition of Its Shares by CEO and COO from Other Shareholders
3. OPTIMER PHARMACEUTICALS SHAREHOLDER ALERT: Levi & Korsinsky Investigates Possible Breaches of Fiduciary Duty by Board of Optimer Pharmaceuticals, Inc. in Connection with Sale of Company to Cubist Pharmaceuticals, Inc.
4. FDA Approvals, Dividends, New Technologies, and Solid Margins Increase Shareholder Value - Research Report on Abbott, Baxter, CareFusion, Haemonetics, and CR Bard
5. Teamsters Protest McKessons Worker Abuse And Executive Pay At Shareholder Meeting
6. Alliquas CEO Issues Midyear Corporate Update for Shareholders
7. Sinovac Schedules 2013 Annual Meeting of Shareholders
8. Millenia Hope, Inc. Updates to Shareholders
9. Royalty Pharma Urges Elan Shareholders to Vote AGAINST ALL FOUR Elan Resolutions Today
10. CVBT Shareholders Vote for Change
11. Cytos Invites to the Annual Shareholders Meeting 2013
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/5/2016)... 2016  New research by the CVS Health ... the U.S. Department of Health and Human Services, ... Response (ASPR), published online today in JAMA ... encourage patients with chronic conditions to refill medications ... also affirms that public-private partnerships can facilitate timely ...
(Date:12/5/2016)... of Spectrum Science Communications , announced today that Jonathan ... consecutive years of high double digit growth in fee revenues. ... management of the firm that Seng founded in 1996. Earlier in ... the Year and was selected among the Best Places to Work. ... ...
(Date:12/5/2016)...  Seno Medical Instruments, Inc., the company pioneering the ... improve the process of diagnosing breast cancer, today announced ... post-market surveillance and clinical follow-up study at the 2016 ... place from December 6-10, 2016 at the Henry B. ... . Seno Medical Instruments will present ...
Breaking Medicine Technology:
(Date:12/5/2016)... ... December 05, 2016 , ... Physicians Education ... Annual International Congress on Hematologic Malignancies®: Focus on Leukemias, Lymphomas, and Myeloma, on ... “We are honored to have Amy E. Herman present at this year’s conference, ...
(Date:12/5/2016)... ... ... BSI and Brenntag Canada have been appointed by Chr. Hansen as their ... fruits and beverage colorants effective November 1, 2016. , “The ... product portfolio,” said Steve Brauer, President of Brenntag Specialties, Inc. “Representing Chr. Hansen will ...
(Date:12/5/2016)... ... December 05, 2016 , ... Sideline Products is a Southern York ... both the smaller rider and the horse. Smaller saddles can pinch and irritate the ... to fit over a properly fitted western saddle so it does not impact the ...
(Date:12/5/2016)... ... December 05, 2016 , ... “Life Will Never Be ... supportive family and friends. “Life Will Never Be The Same” is the creation of ... in writing children's books and holds a degree in Christian religion and philosophy from ...
(Date:12/5/2016)... ... ... MBA has joined the Retina Group of New York (RGONY) specializing in uveitis ... MD and has been providing tertiary medical and surgical retinal care on Long Island for ... her peers. Growing up in a family of doctors, Dr. Shah emulated the role ...
Breaking Medicine News(10 mins):