NEW ORLEANS, March 13, 2013 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 6, 2013 to file lead plaintiff applications in a securities class action lawsuit against Impax Laboratories, Inc. (Nasdaq:IPXL), if they purchased the Company's common stock during the period between June 6, 2011 and March 4, 2013, inclusive (the "Class Period"). This action is pending in the United States District Court for the Northern District of California.

What You May Do

If you purchased shares of Impax and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn (lewis.kahn@ksfcounsel.com), toll free, 877-515-1850, or via cell phone any time at 504-301-7900. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by May 6, 2013.

About the Lawsuit

Impax and certain of its senior executives are charged with issuing materially false and misleading statements, during the Class Period, in violation of federal securities laws.

These false statements and omissions included, in part, the following: (i) the Company was suffering from deficient internal controls and procedures; (ii) the Company had filed to disclose its true financial and operational condition; and (iii) the Company failed to disclose that its financial statements were materially false and misleading.

On March 5, 2013, Impax's stock fell $5.20 per share - a decline of 26%. This decline followed an announcement by Impax that the FDA completed an inspection of the Hayward facility, and discovered continuing manufacturing deficiencies.

About Kahn Swick & Foti, LLC

To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.

Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner, 877-515-1850
or after hours via cell phone 504-301-7900

206 Covington St.
Madisonville, LA 70447