The Briscoe Law Firm Investigates Medifast, Inc. on Behalf of Shareholders for Possible Breaches of Fiduciary Duties by its Officers and Directors

The Briscoe Law Firm, PLLC, founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the securities law firm of Powers Taylor, LLP are investigating potential legal claims against the officers and Board of Directors of Medifast, Inc. ("Medifast” or "MED”) (NYSE: MED) during the period of March 4, 2010 through March 10, 2011 (the "Class Period”).

It has been alleged in a recently-filed class action complaint that during the Class Period, Medifast and certain of its officers and directors made materially false and misleading statements or failed to disclose material information related to the Medifast’s business and operations in violation of the Securities Exchange Act of 1934. Specifically, it is alleged that the defendants failed to disclose: (1) that Medifast was improperly recognizing certain expenses; (2) that the company lacked adequate internal and financial controls; and (3) that, as a result of the foregoing, Medifast’s financial results were materially false and misleading at all relevant times. On March 11, 2011, when Medifast disclosed that it was delaying filing its fiscal 2010 financial results and annual report, the company’s stock declined $5.27 per share, or nearly 25%.

If you currently own or purchased Medifast/MED shares and would like additional information regarding this investigation or if you have information regarding the allegations against the company, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.

The Briscoe Law Firm is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.