Navigation Links
BIOLASE, Inc. Sued by Investor

SAN DIEGO and IRVINE, Calif., Aug. 27, 2013 /PRNewswire/ -- Shareholder rights attorneys at Robbins Arroyo LLP announce that an investor of BIOLASE, Inc. (NASDAQ: BIOL) ("BIOLASE") has filed a complaint in the U.S. District Court for the Central District of California.  The complaint alleges that the company and certain of its officers and directors violated the Securities Exchange Act of 1934 between January 7, 2013 and August 12, 2013 (the "Class Period").  BIOLASE develops, manufactures, and markets lasers in dentistry and medicine.


BIOLASE Accused of Making False and Misleading Statements

According to the complaint, certain BIOLASE officers and directors made false and/or misleading statements and/or failed to disclose information regarding the company's business, operations, and prospects.  Specifically, the complaint alleges that, throughout the Class Period, the company and certain of its officers and directors misrepresented and failed to disclose that: (i) contrary to claims by the company that its dental lasers were "becoming the standard of care" in the industry, BIOLASE's lasers were in use in only 5% of dental offices and disfavored by many dentists because of their high cost; (ii) the company's attempt to convert to a direct sales model in the United States was failing because of the high cost of the dental lasers; (iii) BIOLASE was financially impaired by its high debt burden and the terms of its lines of credit with Comerica Bank; and (iv) BIOLASE failed to generate cash from operations and was in default of its lines of credit with Comerica Bank.  As a result of these false and misleading statements and omissions, BIOLASE shares traded at artificially inflated prices during the Class Period.

BIOLASE Stock Price Drops on News of Revenue and Earnings Misses

On August 7, 2013, according to the complaint, BIOLASE announced its financial results for its second quarter 2013, reporting revenue of $14.2 million and a $.06 per share loss.  Both revenue and earnings numbers were significantly below the $15.69 million revenue and $.04 per share loss BIOLASE had led the market to expect.  Then, on August 13, 2013, BIOLASE issued a press release announcing that the company had violated the terms of its covenants with Comerica Bank.  On this news, BIOLASE shares fell to $1.81 on August 13, 2013, down nearly 80% from a Class Period high of $6.05 reached on April 29, 2013.

If you invested in BIOLASE and would like to discuss your shareholder rights, please contact attorney Darnell R. Donahue at (800) 350-6003,, or via the shareholder information form on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in securities litigation and shareholder rights law.  The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.  For more information, please go to

Press release link:

Attorney Advertising. Past results do not guarantee a similar outcome.  

Darnell R. Donahue
Robbins Arroyo LLP
(619) 525-3990 or Toll Free at (800) 350-6003

SOURCE Robbins Arroyo LLP
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. Shareholder Alert: Pomerantz Law Firm has filed a Class Action Against Biolase, Inc. and Certain Officers - BIOL
2. Faruqi & Faruqi, LLP Encourages Investors Who Suffered Substantial Losses Investing in Chelsea Therapeutics International, Ltd. to Contact the Firm
3. MAP Pharmaceuticals to Present at Upcoming Investor Conferences
4. Gen-Probe Withdraws from Previously Announced Investor Presentations
5. Watson Names Lisa DeFrancesco Vice President, Global Investor Relations
6. Provectus Pharmaceuticals, Inc.s Investor Presentation Now Available for On-demand Viewing at
7. Hospira to Present at Upcoming Investor Conferences
8. Heska to Present at B. Riley Investor Conference
9. Parexel Invites Public To Listen To Live Webcast Of Its Investor Day May 31, 2012
10. B. Riley Revises Timing of STAAR Surgical Presentation at Investor Conference
11. CryoLife to Participate in 3rd Annual Benchmark Company, LLC One-on-One Investor Conference
Post Your Comments:
(Date:11/24/2015)... BOULDER, Colo. , Nov. 24, 2015 /PRNewswire/ ... announced that its Chief Executive Officer, Ron ... Annual Healthcare Conference in New York.  The public ... a webcast on the Array BioPharma website.Event:Piper Jaffray ... OfficerDate:  , Wednesday, December 2, 2015Time:1:30 p.m. Eastern ...
(Date:11/24/2015)... Nueva York , 24 de noviembre de ... del Avery Breathing Pacemaker System, se complace anunciar ... Ph.D. como consultor clínico. ... Foto -   ... Jonzon es un fisiólogo y consultor en neonatología ...
(Date:11/24/2015)... --> --> ... by Product Type (Bone Graft, Bine Graft Substitute, Platelet Rich ... Lumbar Interbody Fusion), End User, and Geography - Global Forecast ... at $1.90 Billion in 2014 and is expected to reach ... the forecast period of 2015 to 2020. Browse ...
Breaking Medicine Technology:
(Date:11/24/2015)... ... ... Charitable giving is at its peak during the holidays. In fact, ... the year totalling over $358 billion in 2014. With more than 1.5 million ... individuals who want to “give back” during the holidays. , “With so many charities ...
(Date:11/24/2015)... ... November 24, 2015 , ... The hospitals ... to several aspects of orthopedic care. They have received recognition for excellence from ... orthopedic care. , Becker's Hospital Review selected hospitals for inclusion based on ...
(Date:11/24/2015)... Port Richey, FL (PRWEB) , ... November 24, 2015 , ... ... it deems a growing epidemic as deaths from prescription opioids in the United States ... heroin and cocaine. In 2013 alone, opioids were involved in 37 percent of all ...
(Date:11/24/2015)... ... November 24, 2015 , ... Serenity Point Rehabilitation, a holistic treatment center for ... with some of the staff members at their recovery center. The videos highlight some ... as some of the things that make their recovery program so unique. , “Making ...
(Date:11/24/2015)... (PRWEB) , ... November 24, 2015 , ... ... award at Cleveland University-Kansas City (CU-KC), in Overland Park, Kansas. Benson, ... Chiropractor and University President Carl S. Cleveland III on October 16. , “Katie ...
Breaking Medicine News(10 mins):