SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of Medicis Pharmaceutical Corporation In Connection With The Sale Of The Company To Valeant Pharmaceuticals International, Inc.

Levi & Korsinsky is investigating the Board of Directors of Medicis Pharmaceutical Corporation (“Medicis” or the “Company”) (NYSE: MRX) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Valeant Pharmaceuticals International, Inc. (NYSE: VRX).

Click here to learn more about the investigation: http://zlk.9nl.com/medicis-pharmaceutical-mrx, or call: 877-363-5972. There is no cost or obligation to you.

Under the terms of the transaction, Medicis shareholders will receive $44 for each share of Medicis stock they own. The transaction has a total approximate value of $2.6 billion. The investigation concerns whether the Medicis Board of Directors breached their fiduciary duties to Medicis stockholders by failing to adequately shop the Company before entering into this transaction and whether Valeant Pharmaceuticals International, Inc. is underpaying for Medicis shares, thus unlawfully harming Medicis stockholders. In particular, at least one analyst set a price target for Medicis stock at $45.00 per share.

If you own common stock in Medicis and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/medicis-pharmaceutical-mrx.

Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

Copyright Business Wire 2010

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