Law Offices of Todd M. Garber Announces Class Action Lawsuit Against Impax Laboratories, Inc.
Law Offices of Todd M. Garber Announces Class Action Lawsuit Against Impax Laboratories, Inc. Business Wire LOS ANGELES -- April 5, 2013 The Law Offices of Todd M. Garber announces that a class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of a class (the “Class”) comprising all 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”). 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 are a member of the above-described Class, you may move the Court no later than May 6, 2013 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time, or you may retain counsel of your choice. If you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to email@example.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Contact: Law Offices of Todd M. Garber Todd M. Garber, Attorney at Law Los Angeles, California 213-700-7262 firstname.lastname@example.org