NEW YORK, Jan. 16, 2008 (PRIME NEWSWIRE) -- Murray, Frank & Sailer, LLP Announce the Notice of Pendency of Proposed Class Action and its Settlement involving Andrx Corporation.
UNITED STATES DISTRICT COURT - SOUTHERN DISTRICT OF FLORIDA
FORT LAUDERDALE DIVISION
Case No. 05-61640 CIV-DIMITROULEAS
JERRY LOWRY, on behalf of himself and all others similarly situated,
Plaintiff,
v.
ANDRX CORPORATION, and THOMAS P RICE,
Defendants.
SUMMARY NOTICE OF PENDENCY OF PROPOSED CLASS ACTION AND ITS SETTLEMENT
TO: ALL PERSONS OR ENTITIES WHO PURCHASED ON THE OPEN MARKET THE COMMON STOCK OF ANDRX CORPORATION BETWEEN MARCH 9, 2005 AND SEPTEMBER 5, 2005, INCLUSIVE (THE "CLASS").
YOU ARE HEREBY NOTIFIED that the above-captioned action has been preliminarily certified as a class action for certain purposes and that a settlement for Eight Million Dollars ($8,000,000) has been proposed. A hearing will be held before the Honorable William P. Dimitrouleas in the United States District Court for the Southern District of Florida, United States District Court, 299 East Broward Blvd, Fort Lauderdale, FL 33301, at 1:00 p.m., on April 3, 2008 to determine whether: (1) the proposed settlement should be approved by the Court as fair, reasonable and adequate; (2) Lead Counsel's application for an award of attorneys' fees and reimbursement of expenses should be approved; and (3) the claims against Defendants should be dismissed with prejudice.
IF YOU ARE A MEMBER OF THE CLASS DESCRIBED ABOVE, YOUR RIGHTS WILL BE AFFECTED AND YOU MAY BE ENTITLED TO SHARE IN THE SETTLEMENT FUND. If you have not yet received the full printed Notice of Pendency of Proposed Class Action and Its Settlement (the "Notice") and Proof of Claim and Release form ("Proof of Claim") you may obtain copies of these documents by contacting:
Andrx Corporation Securities Litigation c/o Strategic Claims Services 600 N. Jackson Street - Suite 3 PO Box 230 Media, PA 19063 Tel: (866) 274-4004 www.strategicclaims.net
Inquiries, other than requests for the Notice and Proof of Claim, may be made to Lead Counsel:
Jacqueline Sailer Murray, Frank & Sailer LLP 275 Madison Avenue Suite 801 New York, NY 10016
To participate in the Settlement, you must submit a Proof of Claim no later than April 10, 2008. As more fully described in the Notice, the deadline for submitting objections and requests for exclusions is March 14, 2008.
Further information may also be obtained by directing your inquiry in writing to the Claims Administrator, Strategic Claims Services, at the address listed above.
BY ORDER OF THE COURT