A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Impax Laboratories Inc (NASDAQ: IPXL) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on December 19, 2015 and NASDAQ: IPXL investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/05/2015 -- A deadline is coming up on December 19, 2015 in the settlement reached in the securities class action lawsuit filed for shareholders in who purchased shares of Impax Laboratories Inc (NASDAQ: IPXL) between March 6, 2013 and August 1, 2014.
Investors who purchased a significant amount of shares of Impax Laboratories Inc (NASDAQ:IPXL) between March 6, 2013 and August 1, 2014, have certain options and should contact the Shareholders Foundation by email at mail@shareholdersfoundation.com or call 858-779-1554.
The settlement proof of claim form or detailed settlement notice for the settlement in the Impax Laboratories Inc (NASDAQ: IPXL) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/impax-laboratories-inc-nasdaq-ipxl-investor-securities-class-action-lawsuit-08132014
In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is December 19, 2015. The class action administrator for this case is KCC Class Action Services.
The lawsuit was originally filed in the U.S. District Court for the District of New Jersey against Impax Laboratories Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between May 20, 2013 and July 28, 2014. According to the complaint the plaintiff alleges on behalf of purchasers of Impax Laboratories Inc (NASDAQ:IPXL) common shares between May 20, 2013 and July 28, 2014, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that Defendants made allegedly false and/or misleading statements and/or failed to disclose that Impax Laboratories Inc failed to maintain proper quality control and manufacturing practices at its Taiwan facility in violation of current Good Manufacturing Practices ("cGMP"), that the manufacturing deficiencies at the Taiwan facility could have a material adverse impact on Impax Laboratories Inc's ability to successfully launch its new drug, RYTARY, that the manufacturing deficiencies at the Taiwan facility jeopardized Impax Laboratories Inc's ability to manufacture, sell, and distribute generic pharmaceutical products, and that based upon the above, Defendants lacked a reasonable basis for their positive statements about Impax Laboratories Inc and its outlook, including statements about its ability to launch RYTARY.
Those who purchased shares of Impax Laboratories Inc have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com