DALLAS, Dec. 18, 2006 (PRIME NEWSWIRE) -- There are only 15 more days until the January 2, 2007 deadline to file for appointment of Lead Plaintiff in the pending class action lawsuit against Warner Chilcott Limited ("WCRX" or "the Company") (Nasdaq:WCRX). If you purchased the securities of WCRX between September 20, 2006 and September 26, 2006, inclusive (the "Class Period"), you may contact Baron & Budd, P.C. to discuss your legal options.
On November 1, 2006, the initial complaint was filed against WCRX alleging violations of Federal securities laws. The complaint charges that Defendants violated the Securities Act of 1933. In particular, the complaint alleges the Company's registration statement, in conjunction with its initial public offering ("IPO"), contained false statements of material facts and/or failed to state other facts necessary to make the statements not misleading. Specifically, the complaint alleges that the Company's registration statement neglected to disclose that at the time of the IPO, WCRX had halted shipments of Ovcon 35, erasing a valuable revenue stream for the Company.
On September 26, 2006, the Company announced advancements in a lawsuit carried out against it by the Federal Trade Commission. Additionally, the Company also filed a supplement to its initial registration statement, in which it disclosed that it had shut down shipments of Ovcon 35 in September.
In reaction to this news, shares of Warner Chilcott plummeted from $15.00 per share to $12.60 per share, a single day decline of 16% on abnormally heavy volume.
If you are a member of this class and would like to take action in this suit, you may contact Baron & Budd, P.C. at 1-800-222-2766. You may also visit Baron & Budd online (http://www.securitiesactions.com). Information on your legal rights can be obtained by contacting the law firm of Baron & Budd, P.C.
About Baron & Budd, P.C.
Since 1977, the law firm of Baron & Budd, P.C. has championed the rights of people and communities harmed by corporate misconduct. With over 80 attorneys and offices in Texas, California, Ohio, Louisiana, and New York, Baron & Budd enjoys a national reputation as a leader of the plaintiff's bar. The firm represents individuals with mesothelioma and other diseases caused by asbestos; leukemia and lymphoma caused by benzene; and injuries caused by other toxic substances and pharmaceuticals. The firm also represents water authorities seeking clean-up costs for drinking water contamination; securities investors defrauded by corporate wrongdoing; and consumers. For more information about Baron & Budd, call 1-800-222-2766 or visit www.baronandbudd.com. For more information about Baron & Budd's securities litigation practice, please visit www.securitiesactions.com.
More information on this and other class actions can be found on the Class Action Newsline at http://www.primenewswire.com/ca.