Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Medicis Pharmaceutical Corporation (“Medicis” or the “Company”) (NYSE: MRX) (ISIN: US5846903095) concerning the proposed acquisition of Medicis by Valeant Pharmaceuticals International, Inc. in a cash transaction valued at approximately $2.6 billion. The investigation concerns whether the Medicis directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Medicis shareholders would receive $44.00 in cash per share of Medicis common stock. However, the Price to EBITDA, Revenue and Asset multiples are below that of comparable transactions. Medicis shareholders seeking more information about this acquisition are advised to contact Rebecca Jarmon at email@example.com or 212-661-1100 or 888-476-6529, ext. 314. The Pomerantz Firm, with offices in New York, Chicago and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
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%.