Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of investors who purchased Biolase, Inc. (“Biolase” or the “Company”) (NasdaqCM: BIOL) stock between January 7, 2013 and August 12, 2013.
For more information, click here: http://zlk.9nl.com/biolase-biol/.
The complaint alleges that during the Class Period, defendants failed to disclose and/or concealed that: (a) there is little evidence demonstrating that the use of dental lasers provides long-term benefits to teeth; (b) Biolase's efforts to switch to a direct sales model in the United States were failing; (c) the debt burden the Company assumed to exit its arrangement with the former exclusive distributor of its WaterLase products, coupled with the terms of certain of its Comerica lines of credit, were financially handicapping the Company; and (d) there was no cash being generated from operations and the Company was in default of its Comerica lines of credit.
On August 7, 2013, Biolase announced its second quarter 2013 financial results, reporting revenues of just $14.2 million. Then on August 13, 2013, the Company announced that it was in violation of its bank covenants.If you suffered a loss in Biolase you have until October 22, 2013 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/biolase-biol/. Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV