Glancy Binkow & Goldberg LLP Announces Lead Plaintiff Deadline in the Class Action Lawsuit Against Impax Laboratories, Inc.
Glancy Binkow & Goldberg LLP Announces Lead Plaintiff Deadline in the Class Action Lawsuit Against Impax Laboratories, Inc. Business Wire LOS ANGELES -- April 2, 2013 Glancy Binkow & Goldberg LLP announces that purchasers of the common stock of Impax Laboratories, Inc. (“Impax” or the “Company”) (NASDAQ:IPXL) between June 6, 2011 and March 4, 2013, inclusive (the “Class Period”), have until May 6, 2013 to file a motion with the Court to be appointed as lead plaintiff. The shareholder lawsuit was filed in the United States District Court for the Northern District of California. Impax is a specialty pharmaceutical company involved in the development, manufacture and marketing of bioequivalent pharmaceutical products and branded products. The Complaint alleges that during the Class Period the Company and certain of its officers and directors violated federal securities laws by making false and misleading statements in connection with manufacturing deficiencies at the Company’s Hayward, California, facility, including the impact these deficiencies would have on the Company’s ability to gain FDA approval for its drug RytaryTM. On March 4, 2013 the Company announced that the FDA had completed an inspection of the Hayward facility. According to the Company, the FDA found twelve problems at the Hayward facility that the Company needed to correct. The Company further announced that due to continuing manufacturing deficiencies, Impax did not expect to be able to launch its RytaryTM drug until 2014. On this news, shares of Impax declined $5.20 per share, or 26%, to close at $14.80 per share on March 5, 2013, on unusually heavy volume. If you purchased Impax common stock during the Class Period, you have until May 6, 2013 to move the Court to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take action at this time; you may retain counsel of your choice or take no action and remain an absent Class member. To learn more about this action, or if you have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by telephone at (310) 201-9150, Toll Free at (888) 773-9224, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Contact: Glancy Binkow & Goldberg LLP, Los Angeles, CA Michael Goldberg 310-201-9150 or 888-773-9224 email@example.com www.glancylaw.com