Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of
$100,000 Investing In Impax Laboratories, Inc. To Contact The Firm
NEW YORK, March 29, 2013
NEW YORK, March 29, 2013 /PRNewswire/ --Faruqi & Faruqi, LLP, a leading
national securities law firm, is investigating potential securities fraud at
Impax Laboratories, Inc. ("Impax" or the "Company") (NASDAQ: IPXL).
The investigation focuses on whether the Company and its executives violated
federal securities laws by failing to disclose that: (1) the Company failed
to maintain proper quality control and manufacturing practices at its Hayward
facility in violation of current Good Manufacturing Practices ("GMP"); (2) the
Company failed to take proper remedial actions to correct quality control
issues previously identified by the FDA in prior inspections at the Hayward
facility; and (3) the Company failed to disclose the extent of the adverse
impact the manufacturing deficiencies at the Hayward facility could have on
the Company's ability to successfully launch its new drug, Rytary.
On March 4, 2013, Impax announced that the FDA had completed an inspection of
the Company's Hayward facility. Based on its investigation, the FDA issued a
new Form 483 (a form used by the FDA to document and communicate deficiencies
in a company's quality system discovered during an on-site inspection), which
stated it had found twelve problems at the Hayward facility that the Company
needed to correct. The Company further indicated that due to the continuing
manufacturing deficiencies, it did not expect to be able to launch Rytary
until 2014. On this news, Impax's stock plummeted $5.20 per share to close at
$14.80 per share on March 5, 2013, a one-day decline of 26% on high volume.
Request more information now by clicking here: www.faruqilaw.com/IPXL. There
is no cost or obligation to you.
If you invested in Impax stock or options between June 6, 2011 and March 4,
2013 and would like to discuss your legal rights, visit
www.faruqilaw.com/IPXL. You can also contact us by calling Richard Gonnello
or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by
sending an e-mail to email@example.com or firstname.lastname@example.org.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Impax's
conduct to contact the firm, including whistleblowers, former employees,
shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is
Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or
predict a similar outcome with respect to any future matter. We welcome the
opportunity to discuss your particular case. All communications will be
treated in a confidential manner.
FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Francis McConville, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
SOURCE Faruqi & Faruqi, LLP
Press spacebar to pause and continue. Press esc to stop.