secwatch.observer — SEC 8-K summary
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Issuer:     PSYCHEMEDICS CORP (PMDI)
CIK:        0000806517
Form:       8-K
Filed at:   2021-12-10T23:59:59+00:00
Accession:  0001171843-21-008461
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Psychemedics settles California wage lawsuit for $1.15M, resumes dividend of $0.05/share
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- Binding MOU to settle class action over CA wage/hour laws for ~$1.15M; company denies liability.
- One-time non-cash charge of $1.15M expected in Q4 2021; cash payment anticipated in H2 2022.
- Declares cash dividend of $0.05 per share, payable Dec 30, 2021 to holders of record Dec 20, 2021.
- Continues strategic alternatives review; retained JMP Securities, Mintz Levin, and MTS Health Partners.
- No timetable set for strategic review; no assurance of transaction or outcome.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/806517/000117184321008461/0001171843-21-008461-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/806517/000117184321008461/f8k_121021.htm
  HTML page:      https://secwatch.observer/filing/0001171843-21-008461

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer