WASHINGTON, Aug. 21, 2002 (PRIMEZONE) -- The Law Office Of Mark McNair today announced that a securities class action has been commenced on behalf of shareholders who acquired Andrx Corporation (NYSE:ADRX) between February 10, 2000 and August 12, 2002, inclusive (the "Class Period").
The case is pending in the United States District Court for the Southern District of Florida against the Company and certain of its officers and directors. The Complaint charges that defendants violated federal securities laws by issuing a series of materially false and misleading statements to the market throughout the Class Period. Among other things, the complaint alleges that the Company issued statements regarding its annual financial performance that were materially false and misleading because it was employing improper accounting practices regarding the accounts receivable for approximately the past three and one-half years in violation of Generally Accepted Accounting Principles ("GAAP").
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you are a member of the Class, you may move the court no later than October 14, 2002 to serve as a lead plaintiff for the Class. In order to serve as a lead plaintiff, you must meet certain legal requirements. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice.
If you were a purchaser of shares of the stock listed above during the period indicated and want to discuss your legal rights, you may e-mail or call the Law Office Of Mark McNair who will, without obligation or cost to you, attempt to answer your questions. You may contact the Law Office Of Mark McNair at 1101 30th St. N.W. Suite 500, Washington, DC 20007, by calling toll-free 877.511.4717 or 202.872.4717 or by email at mcnair@justice4investors.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca