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BIOLASE, Inc. Sued by Investor
Date:8/27/2013

f 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, ddonahue@robbinsarroyo.com, 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 http://www.robbinsarroyo.com.

Press release link: http://www.robbinsarroyo.com/shareholders-rights-blog/biolase-inc/

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