A group of Biolase shareholders are suing in a class action lawsuit accusing company directors of lying about its financial struggles. Biolase (NSDQ:BLTI) is facing a lawsuit brought by shareholders accusing the company of hiding problems by lying on quarterly earnings reports. The lawsuit claims Biolase and its directors concealed liquidity and solvency issues as well as under-performing sales. The class action claims that Biolase was lying on earnings reports during the better part of 2013.
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