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Impax Laboratories Inc. (IPXL)

NASDAQ:IPXL

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Impax Laboratories Inc. To Contact The Firm Before Lead Plaintiff Deadline

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Impax Laboratories Inc. (“Impax” or the “Company”) (NASDAQ:IPXL) of the January 9, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.

The lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of all those who purchased Impax securities between February 25, 2014 and November 3, 2016 (the “Class Period”).  The case, NUNEZ, JR v. IMPAX LABORATORIES, INC. et al, No. 3:16-cv-08420 was filed on November 10, 2016.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Impax engaged in misconduct that would cause the antitrust division of the U.S. Department of Justice (“DOJ”) and the Connecticut Attorney General (“CT Attorney General”) to conduct extensive investigations of possible collusion of generic drug pricing; (2) Impax received two subpoenas which sought documents relating to violations of the federal and state antitrust laws; (3) the DOJ investigation and the underlying conduct was likely to result in criminal charges against Impax; (4) Impax lacked effective internal controls over financial reporting; and (5) as a result, the Company’s public statements were materially false and misleading.

Specifically, on November 3, 2016, Bloomberg published an article entitled “U.S. Charges in Generic-Drug Probe to Be Filed by Year End” which discussed the DOJ’s two year investigation about suspected price collusion by several pharmaceutical companies, including Impax, which will likely result in prosecutors filing criminal charges by the end of the year, as well as the CT Attorney General’s investigation.

On this news, Impax’s share price fell from $20.50 per share on November 2, 2016 to a closing price of $16.50 on November 3, 2016—a $4.00 or a 19.51% drop.

Take Action

If you invested in Impax common stock or options between February 25, 2014 and November 3, 2016 and would like to discuss your legal rights, please fill out the form below. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.  Faruqi & Faruqi, LLP also encourages anyone with information regarding Impax’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Request Information

Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.

  • Case:
    Impax Laboratories Inc. (IPXL)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 11/14/2016

Class Period:

  • 02/25/2014 - 11/03/2016

Send Information

If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.