On July 6, 2000 the Eleventh Circuit Court affirmed the dismissal of the complaint. Previously, on July 1, 1999, the District Court granted defendant's motion to dismiss the action without prejudice, and soon after, the plaintiffs filed an appeal. The complaint included several consolidated actions and was amended twice.

The original Complaint charges that the Company and certain of its officers and directors violated the federal securities laws by, inter alia, issuing a series of materially false and misleading public statements concerning IVAX' financial results for fiscal 1995 and first quarter of 1996. The complaint generally alleges that IVAX made untrue statements of material fact and omitted to state material facts necessary to make statements made not misleading in its public disclosure documents and in communications to the public regarding its operations and financial results and that its financial statements were not prepared in accordance with generally accepted accounting principles. These allegations are centered around allegations that IVAX failed to disclose that product sales were subject to shelf stock adjustments and failed to establish reserves for such adjustments.