Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of BIOLASE, Inc. (NASDAQ CM: BIOL)?
- Did you purchase your shares before January 7, 2013, or between January 7, 2013 and August 12, 2013, inclusive?
- Did you lose money in your investment in BIOLASE, Inc.?
- Do you want to discuss your rights?
According to the Complaint, on August 7, 2013, after the close of trading, the Company issued a press release announcing its second quarter 2013 financial results. Rather than the $15.69 million in revenues Defendants had led the market to expect through their bullish Class Period statements, BIOLASE reported revenues of just $14.2 million – down 2.74% from the $14.6 million the Company had reported in the fourth quarter 2012. Rather than the $0.04 per share loss Defendants had led the market to expect, and had reported in the second quarter of 2012, BIOLASE reported a loss of $0.06 per share.On this news, shares in BIOLASE dropped more than 26%, closing at $2.51 per share on August 8, 2013, from a close of $3.42 per share on August 7, 2013, on unusually heavy trading volume of over 1.9 million shares. If you wish to serve as lead plaintiff, you must move the Court no later than October 22, 2013. A lead plaintiff is a representative party acting 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. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. While Rigrodsky & Long, P.A. did not file the Complaint in this matter, the firm, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States. Attorney advertising. Prior results do not guarantee a similar outcome.