Medivation Inc MDVN Securities Stock Fraud

Company:	Medivation Inc
Ticker Symbol:	MDVN
Class Period:	Jul-17-08 to Mar-2-10
Date Filed:	Mar-16-10
Lead Plaintiff Deadline:	May-15-10
Court:	Northern District of California
Allegations:

A class action lawsuit has been filed in United States District Court on behalf of a class (the "Class") consisting of all persons or entities who purchased Medivation Inc common stock between July 17, 2008 and March 2, 2010, inclusive (the "Class Period"). The class action lawsuit was filed in the United States District Court for the Northern District of California.

The Complaint charges Medivation and certain of the Company's executive officers and/or directors with violations of federal securities laws. Medivation is a biopharmaceutical company focused on the development of small molecule drugs for the treatment of Alzheimer's disease, Huntington's disease, and castration-resistant prostate cancer. The Company's product pipeline includes the drug Dimebon (also known as latrepirdine), which is being developed as a treatment for mild-to-moderate Alzheimer's disease. The Complaint alleges that throughout the Class Period defendants misrepresented and/or failed to disclose (i) material adverse information concerning the efficacy of Dimebon as a treatment for Alzheimer's disease, (ii) the drug's actual prospects for U.S. Food and Drug Administration marketing approval and eventual market success, and (iii), as a result of defendants' misrepresentations and/or failures to disclose, that Medivation common stock traded at artificially inflated levels throughout the Class Period.

On March 3, 2010, before the market opened, the Company announced the results of two Phase 3 clinical trials of Dimebon and disclosed that the drug failed to meet its primary and secondary endpoints, compared to placebo, in patients with Alzheimer's disease. As a result of this news, Medivation's stock price plummeted $27.15 per share -- a one-day decline of 67% on extremely heavy volume of 45 million shares traded -- to close on March 3, 2010, at $13.10 per share.

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.

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