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March 11, 2009 – Coughlin Stoia Geller Rudman & Robbins LLP (“Coughlin Stoia”) (http://www.csgrr.com/cases/perrigo/) today announced that a class action has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Perrigo Company (“Perrigo”) (NASDAQ:PRGO) common stock during the period between November 6, 2008 and February 2, 2009 (the “Class Period”).

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Darren Robbins of Coughlin Stoia at 800/449-4900 or 619/231-1058, or via e-mail at djr@csgrr.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.csgrr.com/cases/perrigo/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges Perrigo and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Perrigo develops, manufactures, and distributes over-the-counter and prescription pharmaceuticals, nutritional products, active pharmaceutical ingredients, and consumer products worldwide.

The complaint alleges that during the Class Period, defendants misled investors regarding the Company’s exposure to at least $18 million of Auction Rate Securities (“ARS”) held by the Company. In January and February of 2008, several auctions of ARS began to fail, limiting the liquidity of these securities. Eventually it came to light that the investment banks that collected lucrative fees for underwriting the issuance of ARS and conducting the auctions had secretly been buying ARS in their own auctions whenever necessary to keep auctions from failing. By early 2008, however, the banks’ balance sheets were stretched too thin for the practice to continue and the market for ARS collapsed.

According to the complaint, Perrigo was left holding $18 million of ARS when the market froze. With few secondary markets and virtually no liquidity, the value of most ARS plummeted, even though the issuers were not in default. However, because the Attorneys General for New York and Massachusetts, as well as the SEC, initiated investigations and/or proceedings against many of the banks that underwrote ARS and conducted the auctions, one bank after another began to redeem the ARS their clients had purchased. Perrigo had a reasonable expectation of redeeming its $18 million in ARS until September 15, 2008. On that date, Lehman Brothers Holdings, Inc. (“Lehman”) declared bankruptcy. Lehman was the bank that underwrote and sold the ARS to Perrigo. On November 6, 2008, the beginning of the Class Period, defendants reported the “fair value” of Perrigo’s ARS as $14,500,000, but concealed the impact of Lehman’s bankruptcy on Perrigo’s ARS. Then just three months later, on February 3, 2009, defendants disclosed, for the first time, that Lehman had underwritten and sold the ARS to Perrigo. They also announced that the Company was writing off the entire value of its ARS, wiping out over a third of Perrigo’s earnings in the quarter. As a result of this disclosure, the stock price plunged 18% that day, causing massive losses to investors.

Plaintiff seeks to recover damages on behalf of all purchasers of Perrigo common stock during the Class Period (the “Class”). The plaintiff is represented by Coughlin Stoia, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

Coughlin Stoia, a 190-lawyer firm with offices in San Diego, San Francisco, Los Angeles, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. The Coughlin Stoia Web site (http://www.csgrr.com) has more information about the firm.