Martek Biosciences Corporation NASD: MATK

A lawsuit seeking class action status has been filed in the United States District Court for the District of Maryland on behalf of all persons who purchased the publicly traded securities of Martek Biosciences Corporation ("Martek") between December 9, 2004 and April 27, 2005 (the "Class Period").

The Complaint alleges that Martek violated federal securities laws by making materially false or misleading public statements. Specifically, the Complaint alleges that Martek flooded its major customers with inventory in excess of their allotted levels, so that Martek could meet its financial numbers and complete an $81.4 million stock offering. As a result of this channel manipulation, Martek's financial results were materially inflated and its statements about fiscal year 2005 financial performance were lacking in any reasonable basis when made. On April 27, 2005, Martek updated its earnings estimates and production plan for fiscal year 2005, revealing an anticipated decrease in third quarter sales. On this news, Martek shares fell from a close of $60.08 on April 27, 2005, to close at $32.49 on April 28, 2005.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.