LOS ANGELES, March 28, 2005 (PRIMEZONE) -- Notice is hereby given by Glancy Binkow & Goldberg LLP that a Class Action lawsuit was filed in the United States District Court for the Southern District of New York on behalf of a class (the "Class") consisting of all persons or entities who purchased or otherwise acquired securities of Forest Laboratories, Inc. ("Forest Labs" or the "Company") (NYSE:FRX) between August 15, 2002 and September 1, 2004, inclusive (the "Class Period").
A copy of the Complaint is available from the court or from Glancy Binkow & Goldberg LLP. Please contact us by phone to discuss this action or obtain a copy of the Complaint at (310) 201-9150 or Toll Free at (888) 773-9224, by email at info@glancylaw.com, or visit our website at www.glancylaw.com.
The Complaint charges Forest Labs and certain of the Company's executive officers with violations of federal securities laws. Plaintiff claims defendants' omissions and material misrepresentations during the Class Period artificially inflated the Company's stock price, inflicting damages on investors. Forest Labs develops, manufactures and markets prescription drug products and non-prescription pharmaceutical products. The Complaint alleges that defendants caused the price of Forest Labs' shares to be artificially inflated by concealing deficiencies with the Company's Celexa/Lexapro drugs for treating adolescent depression. When Forest Labs ultimately disclosed an agreement with the New York State Attorney General to make summaries of previously undisclosed studies of the drugs publicly available, the price of Forest Labs stock dropped to as low as $36 per share.
Plaintiff seeks to recover damages on behalf of Class members and is represented by Glancy Binkow & Goldberg LLP, a law firm with significant experience in prosecuting class actions, and substantial expertise in actions involving corporate fraud.
If you are a member of the Class described above, you may move the Court, not later than May 10, 2005, to serve as lead plaintiff; however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by e-mail to info@glancylaw.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca