The Shareholders Foundation announces that a deadline is coming up on July 15, 2015 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Impax Laboratories Inc (NASDAQ: IPXL) between June 6, 2011 and March 4, 2013.
Investors who purchased a significant amount of shares of Impax Laboratories Inc (NASDAQ: IPXL) between June 6, 2011 and March 4, 2013 have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The settlement proof of claim form or detailed settlement notice for the settlement in Impax Laboratories Inc (NASDAQ: IPXL) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/impax-laboratories-inc-nasdaq-ipxl-investor-securities-class-action-lawsuit-03072013
In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is July 15, 2015. The class action administrator for this case is Kurtzman Carson Consultants.
The lawsuit was originally filed in in the U.S. District Court for the Northern District of California against Impax Laboratories Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between June 6, 2011 and March 4, 2013 in regards to the Hayward facility. According to the complaint the plaintiff alleges on behalf of purchasers of Impax Laboratories Inc (NASDAQ: IPXL) common stock during the period between June 6, 2011 and March 4, 2013, that Impax Laboratories Inc and certain of its officers and directors violated the Securities Exchange Act of 1934.
Between June 6, 2011 and March 4, 2013 Impax Laboratories Inc received a warning letter from the U.S. Food and Drug Administration (“FDA”), dated May 31, 2011, related to an inspection of its Hayward, California facility, which cited problems in deviation from current good manufacturing practices.
The plaintiff claims that the defendants allegedly issued false and misleading statements to the investing public in connection with their efforts to correct manufacturing deficiencies at Impax Laboratories Inc’s Hayward facility, and the impact the deficiencies would have on Impax Laboratories Inc’s ability to gain FDA approval for RYTARY(TM), an extended-release drug for treatment of Parkinson’s disease.
On March 4, 2013, Impax Laboratories Inc announced that the FDA completed its re-inspection of Impax Laboratories Inc’s Hayward manufacturing facility in connection with the previously disclosed Form 483 issued in March 2012. Impax Laboratories Inc said that at the conclusion of this inspection, the FDA issued a new Form 483 with twelve (12) observations, three (3) of which are designated as repeat observations from inspections that occurred prior to the warning letter.
The plaintiff alleges that as a result of defendants’ statements between June 6, 2011 and March 4, 2013, Impax Laboratories Inc’s (NASDAQ: IPXL) stock traded at artificially inflated prices, reaching a high of $27.02 per share on October 2, 2012.
Those who purchased shares of Impax Laboratories Inc (NASDAQ: IPXL) have certain options and should contact the Shareholders Foundation.
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