NEW YORK, April 7, 2005 (PRIMEZONE) -- Pomerantz Haudek Block Grossman & Gross LLP (www.pomerantzlaw.com) has filed a class action lawsuit on April 7, 2005 in the United States District Court for the District of New Jersey, against Bradley Pharmaceuticals, Inc. ("Bradley" or the "Company") (NYSE:BDY) and certain of its officers, on behalf of purchasers of the common stock of Bradley during the period from October 8, 2003 to February 25, 2005, inclusive (the "Class Period").
Bradley Pharmaceuticals, Inc. is a specialty pharmaceutical company that acquires, develops and markets prescription and over-the-counter products in select markets.
The complaint alleges that, throughout the Class Period, defendants made material statements about Bradley's sales, income, costs, expenses and earnings, thereby inflating Bradley's stock price. On February 28, 2005, the Company issued a press release announcing that, since December 2004, the staff of the Securities and Exchange Commission had been conducting an informal inquiry of the Company to Determine whether there have been violations of the federal securities laws. In connection with the inquiry, the SEC staff has requested that the Company provide it with certain information and documents concerning revenue recognition and capitalization of certain payments. In light of the ongoing SEC staff inquiry and separate counsel's review, the Company announced that it would delay the release of its 2004 earnings. By the close of the trading day on February 28, 2005, the company's stock price was down to $9.75, a decline of $3.50 per share, or almost 30%. The complaint alleges violations of Section 10(b) and Section 20(a) of The Exchange Act and Rule 10b-5.
If you purchased the securities of Bradley during the Class Period, you have until May 2, 2005 to ask the Court to appoint you as lead plaintiff for the Class. Lead plaintiffs must meet certain legal requirements. Shareholders outside the United States may also join the action, regardless of where they live or which exchange was used to purchase the securities. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact Carolyn S. Moskowitz (csmoskowitz@pomlaw.com) or Teresa L. Webb (tlwebb@pomlaw.com) of the Pomerantz Firm at 888.476.6529 (or 888.4-POMLAW), toll free. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.
The Pomerantz Firm, which has offices in New York, Chicago and Washington, D.C., is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 50 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. For more information about the Firm, visit our web site at www.pomlaw.com.
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