Impax Laboratories Inc (IPXL) Investor Lawsuit Against Directors Announced by
SAN DIEGO, CA -- (Marketwire) -- 04/01/13 -- The Shareholders
Foundation, Inc. announces that an investor in shares of Impax
Laboratories Inc (IPXL) filed a lawsuit against certain directors
over alleged breaches of fiduciary duties.
If you purchased Impax Laboratories Inc (IPXL) shares in 2011 or
earlier and currently hold any of those shares, you have certain
options and you should contact the Shareholders Foundation, Inc. by
e-mail at firstname.lastname@example.org or call +1 (858) 779-1554.
Earlier in March investors also filed a lawsuit against Impax
Laboratories over alleged securities laws violations.
Impax Laboratories received a warning letter from the U.S. Food and
Drug Administration ("FDA"), dated May 31, 2011, related to an
inspection of its Hayward, California facility, which cited problems
in deviation from current Good Manufacturing Practices.
On March 04, 2013, Impax Laboratories, Inc announced that the U.S.
Food and Drug Administration (FDA) completed its re-inspection of the
Company's Hayward manufacturing facility in connection with the
previously disclosed Form 483 issued in March 2012. Impax
Laboratories Inc said that at the conclusion of this inspection, the
FDA issued a new Form 483 with twelve observations, three of which
are designated as repeat observations from inspections that occurred
prior to the Warning Letter.
The plaintiff alleges that Impax Laboratories Inc allegedly withheld
disappointing results about a new drug and a lab inspection and when
the truth came out the stock price of Impax Laboratories Inc declined
Indeed, Impax Laboratories' stock traded as high as $27.02 per share
on October 2, 2012 and declined to as low as $14.53 per share on
March 6, 2013.
Those who are current long-term investors in shares of Yum! Brands,
Inc. (YUM) have certain options and should contact the Shareholders
The Shareholders Foundation, Inc. is a professional portfolio legal
monitoring and settlement claim filing service, which does research
related to shareholder issues and informs investors of securities
class actions, settlements, judgments, and other legal related news
to the stock/financial market. The Shareholders Foundation, Inc. is
not a law firm. The information is provided as a public service. It
is not intended as legal advice and should not be relied upon.
Shareholders Foundation, Inc.
+1 (858) 779-1554
3111 Camino Del Rio North
San Diego, CA 92108
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