| COMPANY |
Impax Laboratories, Inc. |
| COURT |
United States District Court for the Northern District of California |
| CASE NUMBER |
16-cv-06557 |
| JUDGE |
Honorable Haywood Stirling Gilliam Jr. |
| CLASS PERIOD |
February 20, 2014 - November 2, 2016 |
| SECURITY TYPE |
Common Stock |
Case Background:
On November 11, 2016, the initial complaint in this securities class action was filed against Impax Laboratories, Inc. (“Impax” or the “Company”), and certain of Impax’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action brought on behalf of all persons who purchased or otherwise acquired Impax’s common stock between February 20, 2014 and November 2, 2016, (“Class Period”) both dates inclusive.
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations and compliance policies. Specifically, the complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) Impax and several of its pharmaceutical industry peers colluded to fix generic drug prices; (2) the foregoing conduct constituted a violation of U.S. antitrust laws; (3) consequently, Impax’s revenues during the class period were in part the result of illegal conduct; and (4) as a result of the foregoing, Impax’s public statements were materially false and misleading at all relevant times.
Current Status of Case:
The Court granted Defendant’s Motion to Dismiss on August 12, 2019. Lead Plaintiff filed an Appeal on September 5, 2019. On July 15, 2022, the Court entered an order approving the settlement of this action. This action has concluded.
The deadline to file a claim is March 21, 2022. You may find additional information regarding the terms of the settlement and claim filing process at www.impaxsecuritiessettlement.com, or by calling the claims administrator, JND Legal Administration, at 1-833-823-0051.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.