Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Medicis Pharmaceutical Corporation (“Medicis” or the “Company”) (NYSE: MRX) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Valeant Pharmaceuticals International, Inc. (“Valeant”) (NYSE: VRX) in a transaction valued at approximately $2.6 billion. Click here to learn more: http://www.rigrodskylong.com/investigations/medicis-pharmaceutical-corporation-mrx. Under the terms of the proposal, public shareholders of Medicis will receive $44.00 per share in cash for each share of Medicis they own. The investigation concerns whether Medicis’s board of directors failed to adequately shop the Company and obtain the best possible value for Medicis’s shareholders before entering into an agreement with Valeant. According to Yahoo! Finance, at least one analyst has set a price target for Medicis stock at $45.00 per share. If you own the common stock of Medicis and purchased your shares before September 3, 2012, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530 toll free at (888) 969-4242, by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/medicis-pharmaceutical-corporation-mrx. Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States. Attorney advertising. Prior results do not guarantee a similar outcome.
Medicis Pharmaceuticals Corporation (NYSE:MRX) hit a new 52-week high Wednesday as it is currently trading at $43.73, above its previous 52-week high of $43.70 with 2.3 million shares traded as of 1:50 p.m. ET. Average volume has been 1.8 million shares over the past 30 days.
The ex-dividend date for Medicis Pharmaceuticals Corporation (NYSE:MRX) is tomorrow, September 27, 2012. Owners of shares as of market close today will be eligible for a dividend of 10 cents per share. At a price of $43.34 as of 9:30 a.m., the dividend yield is 0.9%.