Johnson & Weaver, LLP Announces Investigations of Stemline Therapeutics, Inc., Psychemedics Corporation and Ultratech, Inc.

SAN DIEGO, Feb. 6, 2017 /PRNewswire/ -- Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating potential claims against Stemline Therapeutics, Inc., Psychemedics Corporation and Ultratech, Inc., as detailed below:

Stemline Therapeutics, Inc.

Shareholder rights law firm Johnson & Weaver, LLP announces that a shareholder class action lawsuit has been filed against Stemline Therapeutics, Inc. (NASDAQ: STML) on behalf of purchasers of the Company's securities made: (1) pursuant and/or traceable to Stemline's secondary public offering on or about January 20, 2017; and/or (2) on the open market between January 19, 2017 and February 1, 2017, inclusive (the "Class Period").

The complaint alleges that Stemline and certain of its executive officers violated the federal securities laws by making false and misleading statements and/or failing to disclose that a cancer patient in a Stemline clinical trial tied to SL-401 died from a severe side effect on January 18, 2017. Additionally, the complaint alleges that, as a result of the foregoing, the defendants' statements about Stemline's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

If you wish to serve as a lead plaintiff, you must move the Court no later than April 4, 2017. 

If you have held Stemline shares continuously prior to January 19, 2017, you may have standing to hold Stemline harmless from the damage the officers and directors caused by making them personally responsible. You may also be able to assist in reforming the Company's corporate governance to prevent future wrongdoing.

If you are a Stemline shareholder and are interested in learning more about your legal rights and remedies, please contact Jim Baker ([email protected]) at 619-814-4471. If you email, please include your phone number.

Psychemedics Corporation

Shareholder Rights Law Firm Johnson & Weaver, LLP announces the filing of a class action lawsuit on behalf of purchasers of Psychemedics Corporation (NASDAQ: PMD) between July 26, 2016, and January 31, 2017, both dates inclusive (the "Class Period"). The lawsuit seeks to recover damages for of Psychemedics investors under the federal securities laws.

The complaint alleges that, among other allegations, throughout the Class Period Psychemedics issued materially false and/or misleading statements and/or failed to disclose that Psychemedics' Brazilian distributor, Psychemedics Brazil, was engaged in illegal anti-competitive practices and may be subject to further investigation by Brazil's Administrative Council for Economic Defense as a result of this conduct.

On January 31, 2017, Psychemedics issued a press release announcing that a Brazilian court had found Psychemedics Brazil in violation of anti-competition laws and is liable for millions in losses.

If you wish to serve as a lead plaintiff, you must move the Court no later than April 3, 2017.  If you wish to discuss this action, have any questions concerning this notice, or your rights or interests, please contact Jim Baker ([email protected]) by email or by phone at 619-814-4471. Your ability to share in any recovery does not require that you serve as a lead plaintiff.

Ultratech, Inc.

Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Ultratech, Inc. (NASDAQ: UTEK) breached their fiduciary duties in connection with the proposed acquisition of Ultratech by Veeco Instruments Inc.

Under the terms of the transaction, Ultratech shareholders will receive (i) $21.75 per share in cash and (ii) 0.2675 of a share of Veeco common stock for each Ultratech common share they own. Based on the closing price of Veeco on February 1, 2017, this represents an approximate value of $28.64 per share.

If you own shares of Ultratech and purchased the stock before February 2, 2017, and believe the proposed buyout price is too low and you're interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker ([email protected]) at 619-814-4471.

About Johnson & Weaver, LLP:

Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:

Johnson & Weaver, LLP
Jim Baker, 619-814-4471
[email protected]

SOURCE Johnson & Weaver, LLP

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