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Labaton Sucharow LLP Files a Class Action Lawsuit on Behalf of Investors in Impax Laboratories, Inc. -- IPXL

Labaton Sucharow LLP Files a Class Action Lawsuit on Behalf of Investors in
Impax Laboratories, Inc. -- IPXL

NEW YORK, April 8, 2013 (GLOBE NEWSWIRE) -- Labaton Sucharow LLP filed a class
action lawsuit on April 8, 2013 in the U.S. District Court for the Northern
District of California. The lawsuit was filed on behalf of persons or entities
who purchased or otherwise acquired the publicly-traded common stock of Impax
Laboratories, Inc. ("Impax" or the "Company") (Nasdaq:IPXL) between February
25, 2011 and March 4, 2013, inclusive (the "Class Period").

The action charges Impax and certain of its officers with violations of
Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule
10b-5 promulgated thereunder.The Complaint alleges that, throughout the Class
Period, the Company made false and misleading statements and concealed
material information regarding manufacturing deficiencies at the Company's
Hayward, California manufacturing facility.

Impax is a specialty pharmaceutical company engaged in the development,
manufacture, and marketing of bio-equivalent pharmaceutical products, referred
to as generics, in addition to the development of branded products.The
complaint alleges that, during the Class Period, Impax concealed from
shareholders that: (1) the Company failed to maintain proper quality control
and manufacturing practices at its Hayward facility in violation of current
Good Manufacturing Practices; (2) the Company failed to take proper remedial
actions to correct quality control issues identified by the FDA in prior
inspections of the Hayward facility; (3) the extent of the adverse effect that
the manufacturing deficiencies at the Hayward facility could have on the
Company's ability to successfully launch its new branded drug, RYTARY™; and
(4) as a result of the foregoing, Impax lacked a reasonable basis for its
positive statements about the Company and its outlook, including statements
about its ability to launch Rytary or a generic version of a drug called
Concerta® in 2013.

The truth about Impax and its manufacturing practices was revealed on March 4,
2013.That day, Impax announced that the FDA had completed an inspection of
the Company's Hayward facility.Based on its inspection, the FDA issued a new
Form 483, which is a form used by the FDA to document and communicate
deficiencies in a company's quality system discovered during an onsite
inspection.In the Form 483, the FDA cited twelve "observations," or problems,
at the Hayward facility requiring remediation, including three repeat
manufacturing problems that had not been corrected following prior FDA
inspections.On a conference call hosted by the Company that day, Impax
further revealed that, due to the manufacturing deficiencies, it did not
expect to be able to launch Rytary or a generic version of Concerta until
2014.In reaction to these revelations, Impax's stock price declined $5.20 per
share, or 26 percent, to close at $14.80 per share on March 5, 2013, on
extraordinary trading volume.

If you are a member of this Class you can view a copy of the complaint and
join this class action online at
http://www.labaton.com/en/cases/Newly-Filed-Cases.cfm.

If you purchased Impax common stock during the Class Period, you may be able
to seek appointment as Lead Plaintiff.Lead Plaintiff motion papers must be
filed with the U.S. District Court for the Northern District of California no
later than May 6, 2013.A lead plaintiff is a court-appointed representative
for absent Class members.You do not need to seek appointment as lead
plaintiff to share in any Class recovery in this action.If you are a Class
member and there is a recovery for the Class, you can share in that recovery
as an absent Class member.You may retain counsel of your choice to represent
you in this action.

If you would like to consider serving as lead plaintiff or have any questions
about the lawsuit, you may contact Rachel A. Avan, Esq. of Labaton Sucharow
LLP, at (800)321-0476 or (212) 907-0709, or via email at ravan@labaton.com. 

Labaton Sucharow LLP, with offices inNew York,New York and Wilmington,
Delaware, is one of the country's premier law firms representing institutional
investors in class action and complex securities litigation, as well as
consumers and businesses in class actions seeking to recover damages for
anticompetitive practices.The Firm has been a champion of investor and
consumer rights for nearly 50 years, seekingrecovery of current losses and
necessarygovernance reformsto protect investors and consumers. Labaton
Sucharowhas been recognized for its excellence by the courts and its
peers.More information about Labaton Sucharow is available at
www.labaton.com.

CONTACT: Labaton Sucharow LLP
         (800) 321-0476 or (212) 907-0709