EQUITY ALERT: The Rosen Law Firm Announces Filing of Securities Class Action Lawsuit on Behalf of PhotoMedex Investors - PHMD

NEW YORK--(BUSINESS WIRE)--

The Rosen Law Firm today announced that a class action lawsuit has been filed on behalf of all purchasers of the securities of PhotoMedex, Inc. (NASDAQ: PHMD) from November 7, 2012 through November 14, 2013 (the “Class Period”), alleging violations of federal securities laws against PhotoMedex and certain of its officers and directors.

To join the PhotoMedex class action, go to the website at http://rosenlegal.com or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.

According to the lawsuit, defendants issued materially false and misleading statements about PhotoMedex's true business and financial condition in violation of the federal securities laws. Specifically, the complaint alleges that the defendants concealed from investors that: (i) the claimed effectiveness of the Company's key product, the no!no! device, rested on poor studies; (ii) a more credible study raised serious doubts as to the effectiveness of the no!no! device, and demonstrated that it works no better than shaving; (iii) the Company materially overstated the prospects for the no!no! device in the Japanese market; and (iv) consequently, the Company's statements were materially false and misleading at all relevant times. When this adverse information was disclosed, it caused the price of PhotoMedex stock to drop, damaging investors.

A class action lawsuit has already been filed on behalf of PhotoMedex investors. If you wish to serve as lead plaintiff, you must move the Court no later than January 21, 2014. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact, Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.

The Rosen Law Firm focuses on prosecuting securities class action litigation and actions involving financial fraud. The Rosen Law Firm represents investors throughout the globe concentrating its practice in securities class actions.