According to a press release an investigation on behalf of investors in Perrigo Company (NASDAQ: PRGO) who owned Perrigo common stock as of February 3, 2009 was announced.

According to the press release the investigation by a law firm focuses on whether Perrigo Company insiders failed to timely write down $15.1 million in auction rate securities previously purchased from the now-bankrupt Lehman Brothers, while at the same time selling tens of millions of dollars in their personally-held Perrigo shares. Upon disclosure of the write-down on February 3, 2009, Perrigo's stock price plummeted more than $6 per share on extremely high volume, so the investigation.