| Company: | Medicis Pharmaceutical Corp. |
| Ticker Symbol: | MRX |
| Class Period: | Oct-30-03 to Sep-24-08 |
| Date Filed: | Oct-6-08 |
| Lead Plaintiff Deadline: | Dec-5-08 |
| Court: | District of Arizona |
| Allegations: | |
The complaint charges Medicis and certain of its officers and directors with violations under the Securities Exchange Act of 1934. No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than December 2, 2008 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period.
The Complaint alleges that on September 24, 2008, Medicis announced that it intends to restate its financial statements for all accounting periods beginning July 1, 2003 and ending June 30, 2008. The complaint also alleges that the Company indicated that investors can no longer rely on these financial statements and that the restatements result from Medicis applying an improper accounting method in determining reserves for sales returns during the Class Period. The complaint further alleges that the release of this information by Medicis caused the value of the Company's stock price to decline significantly.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
