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Shareholder Class Action Filed Against Impax Laboratories, Inc.

Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired Impax Laboratories, Inc. (“Impax”) (NASDAQ: IPXL) securities between February 25, 2014 and November 3, 2016, both dates inclusive (the “Class Period”).

Impax investors may receive additional information about the case by clicking the link "Join this Class Action" above. 


According to the complaint, Impax is a specialty pharmaceutical company that develops, manufactures, and markets bioequivalent pharmaceutical products. It operates in two segments, Impax Generics and Impax Specialty Pharma.

The Class Period commences on February 25, 2014, when Impax filed a Form 10-K for the fiscal year ended December 31, 2013 with the SEC, which provided the company’s year-end financial results.

According to the complaint, on November 3, 2016, Bloomberg published the article “U.S. Charges in Generic-Drug Probe to Be Filed by Year End” which discussed the U.S. Department of Justice’s (“DOJ”) 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 Connecticut Attorney General’s (“CT Attorney General”) investigation.

Following this news, shares of Impax fell $4.00 per share, or over 19.5%, from its previous closing price to close at $16.50 per share on November 3, 2016.

The complaint alleges that throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (1) Impax was engaging and/or had engaged in conduct that would cause the antitrust division of the DOJ and the CT Attorney General to conduct extensive investigations of possible collusion of generic drug pricing; (2) Impax received two subpoenas – one from the DOJ and another from the CT Attorney General – 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, and possibly its officers and directors, for collusion of generic drug pricing; (4) Impax lacked effective internal controls over financial reporting; and (5) as a result, the defendants’ public statements were materially false and misleading at all relevant times.

If you are a member of the class described above, you may no later than January 9, 2017 move the Court to serve as lead plaintiff of the class, if you so choose. 

A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation.  In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.

Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter.  If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@ktmc.com.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087 1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at info@ktmc.com

Please complete this form and list your purchase and sale transaction(s) for Impax Laboratories, Inc.(NASDAQ: IPXL) securities between February 25, 2014 and November 3, 2016, both dates inclusive (the “Class Period”):

Information Sheet
* Denotes required field
Acquisitions
Date Aquired
Number of Shares Acquired
Acquisition Price Per Share
Sales
Date Sold
Number of Shares Sold
Selling Price Per Share
Did you purchase shares of Impax Laboratories, Inc. prior to the class period?
Are you a current or former employee of Impax Laboratories, Inc. ?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
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