San Diego, CA -- (SBWIRE) -- 04/10/2012 -- 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.
Investors who purchased Medicis Pharmaceutical Corp (NYSE:MRX) and currently hold those NYSE:MRX shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
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 Pharmaceutical’s 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 CEO’s pay rose from over $6.1million in 2009 to over $19.6million in 2011, the COO’s compensation increased from over $2.5million in ‘09 to over $6.9million in 2011, and the CFO’s total compensation increased from over $1.8million in 2009 to over $5.9million in 2011.
Those who purchased Medicis Pharmaceutical Corp (NYSE:MRX) and currently hold those Medicis Pharmaceutical Corp (NYSE:MRX) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego