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If you who purchased Medicis Pharmaceutical Corp (NYSE:MRX) and currently hold those NYSE:MRX shares, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
April 10, 2012 (Shareholders Foundation) -- An investigation for current investors in shares of Medicis Pharmaceutical Corp (NYSE:MRX) was initiated concerning whether certain officers and directors of Medicis Pharmaceutical Corp breached their fiduciary duties by paying executives excessive compensation.
The investigation by a law firm focuses on whether the directors and officers of Medicis Pharmaceutical Corp (NYSE:MRX) harmed the company by agreeing to pay certain of Medicis Pharmaceuticals senior officers and executives excessive compensation in past years.
Medicis Pharmaceutical Corp reported that its Total Revenue rose from $516.67million in 2008 to $721.13million in 2011 and its Net Income increased from $47.51million in 08 to $106.96million in 2011.
Shares of Medicis Pharmaceutical Corp (NYSE:MRX) rose from as low as $10.26 per share in March 2009 to over $40 in July 2011 and closed on April 5, 2012 at $39.33 per share.
However, despite good financial results certain top officers at Medicis Pharmaceutical Corp received an enormous increase in their total compensation.
The CEOs pay rose from over $6.1million in 2009 to over $19.6million in 2011, the COOs compensation increased from over $2.5million in 09 to over $6.9million in 2011, and the CFOs total compensation increased from over $1.8million in 2009 to over $5.9million in 2011.
