BALA CYNWYD, Pa., Sept. 4, 2012 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Medicis Pharmaceutical Corporation ("Medicis" or the "Company") (NYSE: MRX) relating to the proposed acquisition by Valeant Pharmaceuticals. ("Valeant"). Under the terms of the transaction, Medicis shareholders will receive only $44.00 in cash for each share of Medicis stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Medicis for not acting in the Company's shareholders' best interests in connection with the sale process to Valeant. The transaction may undervalue the Company as an analyst has set a price target for Medicis stock at $45.00 per share. If you own shares of Medicis stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org visiting http://brodsky-smith.com/471-mrx-medicis-pharmaceutical-corporation.html, or by calling toll free 877-LEGAL-90. SOURCE Brodsky & Smith, LLC
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%.