Bernstein Liebhard LLP Announces That Less Than a Week Remains to Make a Lead Plaintiff Motion in Medifast Class Action

Bernstein Liebhard LLP today announced that the deadline to make a lead plaintiff motion in the Medifast class action is May 17, 2011. The case is pending in the United States District Court for the District of Maryland on behalf of a class (the “Class”) of investors who purchased Medifast, Inc. (“Medifast” or the “Company”) (NYSE: MED) securities between the period of March 4, 2010 through and including March 10, 2011, 2011 (the “Class Period”). Plaintiffs allege violations of the Securities and Exchange Act of 1934 against Medifast and certain individual defendants.

Plaintiffs in the case allege that Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company was improperly recognizing certain expenses; (2) the Company lacked adequate internal and financial controls; and (3) as a result of the foregoing, the Company's financial results were materially false and misleading at all relevant times.

On March 11, 2011, the Company disclosed that it would be forced to delay the filing of its fiscal 2010 financial results and its Annual Report. According to the limited information provided by the Company regarding the delay, Medifast requires additional time to complete its year-end financial statements due to the need to review the recognition of certain expenses in prior periods. On this news, Medifast shares declined $5.27 per share, or more than 24%, to close at $16.63 per share.

Plaintiffs seek to recover damages on behalf of all Class members who purchased or otherwise acquired shares of Medifast during the Class Period. If you purchased or otherwise acquired Medifast shares during the Class Period, and either lost money on the transaction or still hold the shares, you may wish to join in this action to serve as lead plaintiff. In order to do so, you must meet certain requirements set forth in the applicable law and file appropriate papers no later than May 17, 2011.

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 Bernstein Liebhard LLP, or other counsel of your choice, to serve as your counsel in this action.

If you are interested in discussing your rights as a Medifast shareholder and/or have information relating to the matter, please contact Joseph R. Seidman, Jr. at (877) 779-1414 or seidman@bernlieb.com.

Bernstein Liebhard has pursued hundreds of securities, consumer and shareholder rights cases and recovered almost $3 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last eight years.

You can obtain a copy of the complaint from the clerk of the court for the United States District Court for the District of Maryland.

Bernstein Liebhard LLP 10 East 40th Street New York, New York 10016 (877) 779-1414

www.bernlieb.com

ATTORNEY ADVERTISING. © 2011 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

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