RADNOR, Pa., April 17 – LAWFUEL – The Law News Ne…

RADNOR, Pa., April 17 – LAWFUEL – The Law News Network– The following statement was issued today by the law firm of Schiffrin & Barroway, LLP:

Notice is hereby given that a class action lawsuit was filed in the United
States District Court for the Southern District of New York on behalf of all
securities purchasers of GlaxoSmithKline plc (NYSE: GSK) (“GSK” or the
“Company”) between February 21, 2001 and August 5, 2004, inclusive (the “Class
If you wish to discuss this action or have any questions concerning this
notice or your rights or interests with respect to these matters, please
contact Schiffrin & Barroway, LLP (Marc A. Topaz, Esq. or Darren J. Check,
Esq.) toll-free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at
[email protected]

The complaint charges GSK and Jean-Pierre Garnier with violations of the
Securities Exchange Act of 1934. More specifically, the Complaint alleges
that the Company failed to disclose and misrepresented the following material
adverse facts which were known to defendants or recklessly disregarded by
them: (1) that GSK misrepresented information concerning the safety and
efficacy of Paxil in children and adolescents; (2) that by withholding
negative information about the drug, GSK was able to hold on to its patent on
Paxil and prevented other manufacturers from marketing a less expensive
version of the drug; (3) that as a result the Company’s financial results were
materially inflated; and (4) that shares of GSK were inflated throughout the
Class Period.

On August 5, 2004, The Wall Street Journal published an article entitled
“FDA Revisits Issue of Antidepressants for Youths — New Analysis May Pressure
Agency to Set Limit on Use Because of Suicide Risk.” The article confirmed
that analysis of clinical-trial data shows evidence of a link between
antidepressant drugs and suicidal tendencies among young people. On this news
shares of GSK fell $0.80 per share or 1.95 percent, on August 5, 2004, to
close at $40.18 per share.

Plaintiff seeks to recover damages on behalf of class members and is
represented by the law firm of Schiffrin & Barroway, which prosecutes class
actions in both state and federal courts throughout the country. Schiffrin &
Barroway is a driving force behind corporate governance reform, and has
recovered in excess of a billion dollars on behalf of institutional and high
net worth individual investors. For more information about Schiffrin &
Barroway, or to sign up to participate in this action online, please visit

If you are a member of the class described above, you may, not later than
June 13, 2005 move the Court to serve as lead plaintiff of the class, if you
so choose. A lead plaintiff is a representative party that acts on behalf of
other class members in directing the litigation. In order to be appointed
lead plaintiff, the Court must determine that the class member’s claim is
typical of the claims of other class members, and that the class member will
adequately represent the class. Under certain circumstances, one or more
class members may together serve as “lead plaintiff.” Your ability to share
in any recovery is not, however, affected by the decision whether or not to
serve as a lead plaintiff. You may retain Schiffrin & Barroway, or other
counsel of your choice, to serve as your counsel in this action.

CONTACT: Schiffrin & Barroway, LLP
Marc A. Topaz, Esq.
Darren J. Check, Esq.
280 King of Prussia Road
Radnor, PA 19087
1-888-299-7706 (toll-free) or 1-610-667-7706
Or by e-mail at [email protected]

Web Site: http://www.sbclasslaw.com

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