A class action with an expanded class period of May 17, 1999 through March 6, 2002 (the "Class Period") has been filed in the United States District Court for the District of Massachusetts on behalf of purchasers of Sepracor, Inc. common stock ("Sepracor" or "the Company"). The complaint was filed by the law firm Shapiro Haber & Urmy LLP of Boston, MA. against Sepracor and certain of its current and former officers for violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and SEC Rule 10b-5.

The complaint asserts that the defendants misrepresented and concealed facts concerning Sepracor’s most important product, Soltara, an antihistamine for which the Company had applied for FDA approval. The complaint charges that defendants falsely represented (a) that there was no evidence that Soltara caused cardiac effects; (b) that Soltara had been tested at maximum exposure in patients; and (c) that the FDA had told Sepracor that the safety testing of Soltara was sufficient to allay any concerns about cardiac effects from the drug.

The complaint further alleges that on March 6, 2002, at the end of the Class Period, defendants disclosed that their prior representations were untrue, and that the FDA had declined to approve Sepracor’s application to market Soltara due to the facts defendants had misrepresented. These disclosures caused the market price of Sepracor stock to fall precipitously.

Plaintiff seeks to recover damages suffered by class members and is represented by the law firm of Shapiro Haber & Urmy LLP, which has successfully prosecuted numerous securities class actions on behalf of defrauded investors.

If you are a member of the class described above, you may wish to join the action. You may move the court to serve as a lead plaintiff no later than January 19, 2003.