Medifast (MED) Jumps After Minkow Drops Investigation

Shares of Medifast Inc. (NYSE: MED) are over 13% higher today after Barry Minkow's The Fraud Discovery Institute, Inc. ended its investigation into the company.

The Fraud Discovery Institute also made it clear that they do not have, nor have they ever had any affiliation with the law firm of Barrack, Rodos & Bacine since FDI began investigating publicly traded companies in October of 2006, nor were they aware at anytime of any investigation by the well-known class action law firm.

"We are a small firm with limited resources and must make decisions regarding the allocation of those resources," said Barry Minkow, Co-Founder of the Fraud Discovery Institute, Inc. "This means that some of our investigations must end in order to maintain quality control and continued investigative impact."

Minkow also said a biographical movie based on his best selling book 'Cleaning Up' will be released sometime this year, which will require travel and a significant time commitment.

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