{"schema_version":"secwatch.filing_event.v1","accession":"0001171843-23-004597","form_type":"8-K","ticker":"PMDI","cik":"0000806517","company_name":"PSYCHEMEDICS CORP","filed_at":"2023-07-21T23:59:59+00:00","discovered_at":"2026-05-14T18:03:36.689909+00:00","generated_at":"2026-06-13T05:14:57.915559+00:00","sec_items":["1.01","9.01"],"event_type":"litigation","sentiment":"negative","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Psychemedics settles contract dispute for $500K; records Q2 charge","bullets":["Settled lawsuit with Transportation Insight LLC for $500,000 paid in three installments (first $166,667 in 30 days, then by Dec 2023 and Dec 2024).","Recorded a $500,000 settlement reserve in Q2 2023; company continues to deny liability and wrongdoing.","Settlement avoids potentially significant legal fees and management distraction from protracted litigation.","Agreement provides for dismissal of Georgia lawsuit (Case No. 2022CV369227) after payments; consent judgment secures obligation."],"urls":{"canonical":"https://secwatch.observer/filing/0001171843-23-004597","json":"https://secwatch.observer/filing/0001171843-23-004597.json","markdown":"https://secwatch.observer/filing/0001171843-23-004597.md","text":"https://secwatch.observer/filing/0001171843-23-004597.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/806517/000117184323004597/0001171843-23-004597-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/806517/000117184323004597/f8k_072023.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T05:14:57.915559+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"d2cc938d27237a4b65f9a53bf4c270fe23ad9469","claim":"PSYCHEMEDICS CORP entered into Confidential Settlement Agreement and Release with Transportation Insight LLC valued at $500,000.00 (effective 2023-07-17).","evidence_excerpt":"On July 17, 2023, Psychemedics Corporation (the “Company”) entered into a Confidential Settlement Agreement and Release (“Agreement”) with Transportation Insight LLC, a consultant of the Company, to settle a lawsuit against it related to a contract dispute.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/806517/000117184323004597/0001171843-23-004597-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"settlement"},{"label":"Counterparty","value":"Transportation Insight LLC"},{"label":"Value","value":"$500,000.00"},{"label":"Effective","value":"2023-07-17"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}