NEW YORK, March 18, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of California on behalf of investors who purchased Impax Laboratories Inc. ("Impax" or the "Company") (Nasdaq:IPXL) stock between June 6, 2011 and March 4, 2013.
For more information, click here: http://zlk.9nl.com/impax-laboratories/.
The complaint alleges that during the Class Period, the Company and certain of its officers and directors made materially false and misleading statements in connection with manufacturing deficiencies at the Company's Hayward facility. On March 4, 2013, Impax announced that the FDA had completed an inspection of the Company's Hayward, California facility, finding twelve problems at the facility that the Company needed to correct. Impax also announced that due to continuing manufacturing deficiencies, the Company did not expect to launch its RytaryTM drug until 2014. Upon this news, shares of Impax fell 26%, to close at $14.80 per share on March 5, 2013.
If you suffered a loss in Impax you have until May 6, 2013 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/impax-laboratories/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.