Medicis Pharmaceutical Corporation - Securities Class Action

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Stanford Law School

Medicis Pharmaceutical Corporation Summary: According to the press release, the complaint charges that the defendant Corporation and certain of its officers violated Sections 10(b) and 20(a) of the Exchange Act by issuing materially inaccurate financial statements to the investing public. On September 24, 2008, Medicis announced that it intends to restate its financial statements for each of the accounting periods beginning July 1, 2003 and ending June 30, 2008, and that investors can no longer rely on these financial statements. The restatement is necessary because Medicis applied an improper accounting method in determining reserves for sales returns during the Class Period. News of the pending restatement caused Medicis' stock price to fall significantly, damaging investors.

On February 23, 2009, an order vacating oral argument on the Motion to Consolidate Cases/Appoint Lead Plaintiff, and Motion to Appoint Counsel was granted by the court.

On March 10, 2009, a motion to consolidate, appoint lead plaintiff, and appoint lead counsel was granted by the court.

On May 18, 2009, an Amended Federal Securities Class Action Complaint was filed by the lead plaintiff and lead counsel.

On December 02, 2009, an order was entered into the docket granting both the Medicis Defendants’and Ernst and Young’s Motions to Dismiss. The dismissal was a result of Plaintiffs having failed to plead particularized facts establishing a strong inference that Defendants acted with scienter, as required by the PSLRA. To the extent that Plaintiffs may be able to cure this pleading deficiency, Plaintiffs’ Amended Complaint was dismissed without prejudice.

On January 18, 2010, a Second Amended Complaint against the defendants was filed in this action. Subsequently, two days later on January 20, 2010, a Corrected Second Amended Complaint was filed against the defendants by the lead plaintiffs.

INDUSTRY CLASSIFICATION:
SIC Code: 2834
Sector: Healthcare
Industry: Biotechnology & Drugs

COMPANY/ISSUER NAME:	Medicis Pharmaceutical Corporation
COMPANY/ISSUER TICKER:	MRX
COMPANY WEBSITE:	http://www.medicis.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Andrew Hall, et al., et al. v. Medicis Pharmaceutical Corporation, et al.

COURT: D. Arizona	DOCKET NUMBER: 08-CV-01821
JUDGE NAME: Hon. Michelle H Burns
DATE FILED: 10/03/2008	SOURCE:
CLASS PERIOD START: 10/30/2003	CLASS PERIOD END: 09/24/2008
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
The Rosen Law Firm, P.A. (New York) 350 Fifth Avenue, Suite 5508, New York, NY, 10118 (voice) 212.686.1060, (fax) 212.202.3827, lrosen@rosenlegal.com Tiffany & Bosco, P.A. Third Floor Camelback; Esplanade II; 2525 East Camelback Road, Phoenix, AR, 85016-4237 (voice) 602.255.6000, (fax) 602.255.6000, general@tblaw.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 2

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Class Action Complaint
Type: Complaint		Date on the document: 10/3/2008
U.S. District Court Civil Docket
Type: Docket		Date on the document: 10/3/2008
Order
Type: Order		Date on the document: 02/23/2009
Order
Type: Order of Consolidation		Date on the document: 03/10/2009
Order
Type: Order		Date on the document: 12/02/2009

REFERENCE COMPLAINT

In Re Medicis Pharmaceuitical Corp. Securities Litigation

COURT: D. Arizona	DOCKET NUMBER: 08-CV-01821
JUDGE NAME:
DATE FILED: 05/18/2009	SOURCE:
CLASS PERIOD START: 10/30/2003	CLASS PERIOD END: 09/24/2008
TYPE OF COMPLAINT: First Amended
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Martin & Bonnett, P.L.L.C. 1850 N. Central Avenue, Suite 2010, Phoenix, AZ, 85004 (voice) 602.240.6900, (fax) 602.240.6900, Pomerantz Haudek Block Grossman & Gross LLP (New York) 100 Park Avenue, 26th Floor, New York, NY, 10017-5516 (voice) 212.661.1100, (fax) 212.661.8665, info@pomerantzlaw.com/ _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 2

DOCUMENTS FOR THE REFERENCE COMPLAINT
Amended Federal Securities Class Action Complaint
Type: Complaint		Date on the document: 05/18/2009
Second Amended Federal Securities Class Action Complaint - Demand For Jury Trial
Type: Complaint		Date on the document: 01/18/2010
Second Amended Federal Securities Class Action Complaint - Demand For Jury Trial
Type: Complaint		Date on the document: 01/20/2010
U.S. District Court Civil Docket
Type: Docket		Date on the document: 02/19/2010
U.S. District Court Civil Docket
Type: Docket		Date on the document: 07/20/2011
Order Granting Preliminary Approval To Settlement And Directing Dissemination Of Notice To The Class
Type: Other		Date on the document: 11/03/2011
U.S. District Court Civil Docket
Type: Other		Date on the document: 11/03/2011

OTHER DOCUMENTS

Case Name and/or Number:
Type:		Date on the document:

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