Scott + Scott, LLC Updates GlaxoSmithKline -- Investors Have Until Monday, June 13, 2005, to File Lead Plaintiff Petitions
June 09 2005 - 3:52PM
PR Newswire (US)
Scott + Scott, LLC Updates GlaxoSmithKline -- Investors Have Until
Monday, June 13, 2005, to File Lead Plaintiff Petitions COLCHESTER,
Conn., June 9 /PRNewswire/ -- On behalf of client shareholders,
Scott + Scott, LLC, filed a securities class action against
GlaxoSmithKline PLC (NYSE:GSK) in May 2005. The complaint charges
Glaxo and certain of its officers and directors with federal
securities law violations (Securities Exchange Act of 1934). If you
purchased Glaxo securities between February 21, 2001, and August 5,
2004 ("Class Period"), and sustained damages you may -- no later
than June 13, 2005 -- move for lead plaintiff appointment to
represent the investor class. During the Class Period, the action
alleges, Glaxo's stock and ADR prices were artificially inflated
while defendants concealed deficiencies with the Company's
selective serotonin reuptake inhibitor ("SSRI") drug, Paxil, in
treating adolescent depression. On August 5, 2004, The Wall Street
Journal published an article that reported that a new FDA analysis
confirmed the link between SSRIs (including Paxil) and suicidal
tendencies in young people. Glaxo's stock and ADR prices plummetted
from about $55 per share to $40 per share as the falsity of
defendants' statements came to light. A lead plaintiff must meet
certain requirements mandated by law and shareholders will only be
proposed for this position upon direct consultation with the firm.
Further information can be obtained from Scott + Scott at
800-404-7770 (east) or 800-332-2259 (west). Scott + Scott, LLC, a
Connecticut-based law firm with offices in Ohio and California, has
a national practice and reputation. Scott + Scott has dedicated
itself to client communication and satisfaction. The firm is
currently litigating major securities, antitrust and employee
retirement plan cases throughout the United States and represents
pension funds, charities, major corporations, foundations,
individuals and other entities worldwide. Visit Scott + Scott's
website ( http://www.scott-scott.com/ ) to learn more about the
firm, its practice, attorneys and other cases. If you wish to
discuss this action with an attorney or have any questions
concerning this notice, your rights or any matter within our
expertise, please contact attorney Amy K. Saba at 800-332-2259
(ext. 26) or by e-mail ( ). DATASOURCE: Scott + Scott, LLC CONTACT:
Amy K. Saba, Scott + Scott, LLC, +1-800-332-2259, ext. 26, or Web
site: http://www.scott-scott.com/
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