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Paskowitz & Associates Announces Class Action Lawsuit On Behalf of Molina Healthcare, Inc. Shareholders.

NEW YORK -- Paskowitz & Associates has filed a lawsuit seeking class action status in the United States District Court for the Central District of California on behalf of all persons who purchased the publicly traded securities of Molina Healthcare, Inc. (NYSE: MOH - News; "Molina") between November 3, 2004 and July 20, 2005 (the "Class Period").

For further information you may call toll free, 800-705-9529, or contact counsel by e-mail by writing to classattorney@aol.com

The Complaint alleges that Molina violated federal securities laws in connection with the sudden and dramatic revision of its financial forecasts and the disclosure of previously concealed material problems. On July 20, 2005, Molina announced that it was revising its earnings guidance for fiscal year 2005 to $0.73 to $0.80 per share from its previously issued guidance of $2.40 to $2.45 per share, and setting net income of $20.6 million to $22.6 million, from its previously announced guidance of $67.0 million to $69.0 million. On this news, Molina's stock fell from a close of $46 per share on July 20, 2005, to close at $26.00 per share on July 21, 2005.

If you purchased Molina securities during the Class Period, you may qualify to serve as Lead Plaintiff on behalf of the Class. Motions for appointment to the Lead plaintiff position must be filed no later than September 26, 2005. You are not required to have sold your Molina securities in order to claim damages, or to serve in this role.
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Publication:Business Wire
Geographic Code:1USA
Date:Jul 28, 2005
Words:254
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