June 6, 2013
Bernstein Liebhard LLP today announced that it is investigating whether the Board of Directors of Impax Laboratories, Inc. (NASDAQ: IPXL) (“Impax” or the “Company”), in violation of its fiduciary duties, allowed Impax to be harmed by failing to maintain proper Good Manufacturing Practices at the Company’s Hayward, California facility during 2011 and 2013. In March 2013, the U.S. Food and Drug Administration (“FDA”), after completing an inspection of the Hayward facility, stated that it had found twelve problems in need of correction. The Company indicated that the manufacturing deficiencies noted by the FDA would delay Impax’s launch of Rytary, an extended-release drug for treatment of Parkinson’s disease.
If you are interested in discussing your rights as an Impax shareholder and/or have information relating to the matter, please contact Joseph R. Seidman, Jr. at (877) 779-1414 or firstname.lastname@example.org.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last ten years.