SEATTLE, Jan. 19, 2007 (PRIME NEWSWIRE) -- Keller Rohrback L.L.P. announces that it is investigating claims against certain executive officers and board members of Pediatrix Medical Group, Inc. ("Pediatrix" or the "Company") (NYSE:PDX) in light of recent information concerning alleged backdating of stock options at the Company.
Pediatrix previously announced that the Audit Committee of its Board of Directors, with the assistance of the Committee's outside legal counsel, is reviewing the Company's practices relating to its stock option grants. The review covers options granted from the date of the Company's initial public offering in 1995 to the present. Preliminary reports advise that the Committee expects to conclude that there were deficiencies in the process by which options were granted at the Company, including instances of backdating and misdating of option grants.
The Company also announced that Lawrence M. Mullen has resigned from Pediatrix's Board of Directors. Mr. Mullen had a significant role in administering the Company's stock option program and practices.
The Company also announced that it is subject to an informal SEC review, and that it has been notified that the U.S. Attorney's office in Miami is in the initial stages of a similar investigation.
Keller Rohrback's investigation focuses on the extent that the Company's stock option grant dates and exercise prices of stock options were manipulated in order to boost their value to those who received them.
If you are a current Pediatrix shareholder and have information that is relevant to our investigation, or if you would like additional information concerning the shareholder derivative claims presently being investigated, please contact paralegal Rodney Shanks or attorneys Juli Farris, Elizabeth Leland, Cari Campen Laufenberg, Lynn Sarko or Gary Gotto by telephone, toll-free at 1-800-776-6044, or via e-mail at: investor@kellerrohrback.com.
Keller Rohrback L.L.P. is currently investigating the following companies for improperly manipulating the prices of options granted to executive officers and directors:
Company Company
Coherent, Inc. Novell Inc.
Digital River Inc. Research in Motion, Ltd.
Finisar Corp. Silicon Image Inc.
Flir Systems, Inc. THQ Inc.
Getty Images, Inc. Transaction Systems Architects, Inc.
Insight Enterprises, Inc. UTStarcom, Inc.
KV Pharmeceuticals Co. Valeant Pharmaceuticals International
Keller Rohrback L.L.P. is a law firm headquartered in Seattle that has successfully represented shareholders and consumers in class action cases for over two decades. Its trial lawyers have obtained judgments and settlements on behalf of clients in excess of seven billion dollars.
In a derivative lawsuit, any recovery obtained is returned to the company, for the indirect benefit of its current shareholders. You are not required to contact this or any other law firm in connection with such litigation in the event someone else files such a lawsuit. If you wish to initiate such a lawsuit to seek recovery on behalf of the company, however, you may wish to retain counsel to do so.