NEW YORK, April 12, 2013 (GLOBE NEWSWIRE) -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Impax Laboratories Inc. ("Impax" or the "Company") who purchased Impax common stock between June 6, 2011 and March 04, 2013 (the "Class Period"). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 237.
The investigation concerns whether Impax and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
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 Rytary™ drug until 2014. Upon this news, shares of Impax fell 26%, to close at $14.80 per share on March 5, 2013.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.