BALA CYNWYD, Pa., March 3, 2005 (PRIMEZONE) -- Law Offices of Brodsky & Smith, LLC today announced that a securities class action was commenced on behalf of shareholders who purchased, converted, exchanged or otherwise acquired the common stock of Biogen Idec, Inc., (Nasdaq:BIIB) between February 18, 2004 and February 25, 2005, inclusive (the "Class Period").
The case is pending in the United States District Court for the Northern District of Massachusetts against defendants. The action charges that defendants violated federal securities laws by issuing a series of materially false and misleading statements to the market throughout the Class Period, which statements had the effect of artificially inflating the market price of the Company's securities.
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 proposed class, you may move the court no later than May 2, 2005 to serve as a lead plaintiff for the proposed class. In order to serve as a lead plaintiff, you must meet certain legal requirements. To be a member of the proposed class you need not take any action at this time, and you may retain counsel of your choice.
If you acquired shares of Biogen Idec, Inc. during the Class Period indicated and want to discuss your legal rights, you may e-mail or call Evan J. Smith, Esquire or Marc L. Ackerman who will, without obligation or cost to you, attempt to answer your questions via email at clients@brodsky-smith.com or toll free at 877-534-2590, Brodsky & Smith, LLC, Two Bala Plaza, Suite 602 Bala Cynwyd, PA 19004 (fax) 610-667-9029.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca