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Biotech / Medical : Pediatrix Medical Group (PDX) -- Ignore unavailable to you. Want to Upgrade?

To: Tom Hua who wrote (28)	2/16/1999 11:26:00 PM
From: Justice Reed	Respond to of 431

Purchasers 4/28/98 - 2/12/99 On February 12, 1999, Pediatrix Medical Group, Inc., which announced that it expected to report fourth-quarter profits ahead of estimates last week, revealed that auditor KPMG LP had found Pediatrix's accounting of merger costs unacceptable under SEC rules and had asked the company for more information to complete the 1998 audit. The company anticipates a possible restatement of previously reported earnings, pending resolution of these issues and completion of the 1998 audit of the company's financial statements. The total after-tax amount of the acquisition related-costs is $1.3 million for 1998. Pediatrix retracted its earlier rosy earnings predictions, stating: "Given the status of the audit process, Pediatrix can no longer express confidence to comment on the consensus analysts' estimates for 1998, or when KPMG will be able to complete its work associated with the 1998 audit." The audit follows a decision by the U.S. Securities and Exchange Commission that found Pricewaterhouse-Coopers LLP, the company's independent accounting firm of record, had violated the auditor independence rules. The closing price of the company's stock fell from its February 11, 1999, close of $53.625 to a February 12, 1999, close of $28, losing 47.7% of its value in a single day's trading. If you purchased PDX shares during the period 4/28/98 - 2/12/99, you may be a member of a class of injured shareholders. If you have information which would help us prosecute Pediatrix Medical Group, Inc., please contact us at mail@schubert-reed.com. If you want more information about Pediatrix Medical Group, Inc. or class action lawsuits, please review our web site at schubert-reed.com.