November 7, 2017 - The court granted defendants' motion to dismiss.

June 30, 2017 - Defendants filed a motion to dismiss.

June 2, 2017 - The lead plaintiff filed an amended consolidated complaint.

April 18, 2017 - Lead plaintiff and lead counsel were appointed and all cases were consolidated.

April 3, 2017 - Lead plaintiff motions were filed.

February 3, 2017 - An investor in shares of Psychemedics Corp (NASDAQ: PMD) filed a lawsuit in the U.S. District Court for the District of Massachusetts over alleged violations of Federal Securities Laws by Psychemedics Corp in connection with certain allegedly false and misleading statements made between February 28, 2014 and January 30, 2017.

According to the complaint the plaintiff alleges on behalf of purchasers of Psychemedics Corp (NASDAQ: PMD) common shares between February 28, 2014 and January 30, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 28, 2014 and January 30, 2017, the defendants made false and/or misleading statements and/or failed to disclose that through its affiliate Psychemedics Brasil Exames Toxicológicos Ltda, the Company engaged in anticompetitive conduct to maintain a monopoly over the Brazilian market in violation of the law, that in turn, Psychemedics Corp lacked effective internal controls over financial reporting, and that as a result of the foregoing, Psychemedics Corp’s public statements were materially false and misleading at all relevant times.

Acton, MA based Psychemedics Corp provides hair testing for drugs of abuse, utilizing a hair analysis method involving digestion of hair, enzyme immunoassay (“EIA”) technology and confirmation by mass spectrometry to analyze human hair to detect abused substances. Psychemedics Corp (NASDAQ: PMD) reported that its annual Total Revenue declined from $29.20 million in 2014 to $26.98 million in 2015 and that its Net Income declined from $3.21 million in 2014 to $1.51 million in 2015.

Shares of Psychemedics Corp (NASDAQ: PMD) grew from $8.69 per share in January 2016 to as high as $27.46 per share on January 27, 2017.

On January 31, 2017, news reports revealed that Psychemedics Corp engaged in unlawful anticompetitive conduct in Brazil in order to stifle the business of its competitor Omega Laboratories, Inc. USA. Psychemedics Corp allegedly used “cartel practices” to, “form a drug testing monopoly which included unenforceable and exclusive contracts with collection sites, “all with a view to limit the entry and operation of new companies in the market.”

Shares of Psychemedics Corp (NASDAQ: PMD) declined to as low as $13.81 per share on January 31, 2017.