PHILADELPHIA, Nov. 1, 2006 (PRIMEZONE) -- Law Offices Bernard M. Gross, P.C. (http://www.bernardmgross.com) announces that a class action lawsuit was commenced in the United States District Court for the Southern District of New York, on behalf of purchasers of the common stock of Warner Chilcott, Limited ("Warner" or the "Company") (Nasdaq:WCRX) on the Company's Initial Public Offering effective September 20, 2006 ("IPO") and on the open market between September 20, 2006 and September 25, 2006, inclusive (the "Class Period"). The case is pending before the Honorable William H. Pauley, III.
The action is pending against defendants Warner Chilcott, Ltd., Roger Boissonneault - President, CEO and director, and Paul Herendeen - Executive Vice President and Chief Financial Officer. A copy of the Complaint is available from the Court or can be viewed on the Law Offices Bernard M. Gross, P.C. website at www.bernardmgross.com or contact us by phone at 866-561-3600 (toll free) or by email at susang@bernardmgross.com.
The Complaint charges Warner, Roger Boissonneault and Paul Herendeen with violations of Section 11,12(a)(2) and 15 of the Securities Act by issuing a series of materially false and misleading statements to the market during the Class Period concerning Ovcon 35 pill. Specifically, the complaint alleges that in the prospectus for the IPO, defendants made false and misleading statements about the Company's determination, made prior to the date of the prospectus, to discontinue immediately shipments of Ovcon 35 when it commenced shipments and sale, in September 2006, prior to the date of the prospectus, of its generic chewable version of Ovcon 35 (the "Ovcon Chewable") and the negative impact that determination would have on the Company's sales revenues for the remainder of 2006 and thereafter. When the Company disclosed on September 26, 2006 that it would not be shipping the Ovcon 35 pill anymore since it started selling the Ovcon Chewable, the market price for Warner's newly issued common stock dropped $1.90 per share, 12.7%, to close $13.06.
Plaintiff seeks to recover damages on behalf of Class members and is represented by Law Offices Bernard M. Gross, P.C. which has significant experience and expertise in prosecuting class actions.
If you purchased the stock of, Warner Chilcott, Limited ("Warner" or the "Company") (Nasdaq:WCRX) on the Company's Initial Public Offering effective September 20, 2006 ("IPO") and on the open market between September 20, 2006 and September 25, 2006, inclusive (the "Class Period"), you may no later than January 2, 2007, move the Court to serve as lead plaintiff of the Class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this Notice or rights or interests with respect to these matters,
Please Contact: Law Offices Bernard M. Gross, P.C.
Susan R. Gross, Esq.
Deborah R. Gross, Esq.
The Wanamaker Bldg
100 Penn Sq. East, Suite 450
Philadelphia, PA 19103
Telephone: 866-561-3600 (toll free) or
215-561-3600
E-mail: susang@bernardmgross.com or
debbie@bernardmgross.com.
Website: http://www.bernardmgross.com
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca