NEW YORK, Aug. 15, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm announces that a class action lawsuit has been filed against Impax Laboratories Inc. (Nasdaq:IPXL) on behalf of purchasers of Impax securities from May 20, 2013 through July 28, 2014. The lawsuit seeks to recover damages for Impax shareholders under the federal securities laws.
To join the Impax class action, go to the website at http://rosenlegal.com/cases-333.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, Impax made material misrepresentations concerning: (i) its failure to adhere to proper quality control and manufacturing practices at its Taiwan production facility; (ii) the potential material adverse effect of its quality control and manufacturing issues on its ability to launch its new drug, RYTARY; (iii) the quality control and manufacturing issues imperiling its ability to produce, sell, and distribute generic drugs; and (iv) the absence of a reasonable basis for the Defendants' positive statement concerning the Company and its prospects. The lawsuit claims that when this adverse information entered the market, the price of Impax's securities dropped, damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 13, 2014. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact, Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.