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SOURCE Pomerantz LLP
NEW YORK, July 29, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Impax Laboratories, Inc. ("Impax" or the "Company") (NASDAQ: IPXL). Such investors are advised to contact Robert S. Willoughby at email@example.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 July 29, 2014, Impax Laboratories, Inc. (the "Company") issued a press release announcing its receipt of a Form 483 from the U.S. Food and Drug Administration (the "FDA") related to the FDA's inspection of the Company's Taiwan manufacturing facility. The Form 483 provided ten inspectional observations relating to the inspections, which occurred from July 21 through July 26, 2014.
On this news, shares of Impax fell $4.23 per share to $23.80, or approximately 15.23%, in intraday trading on July 29, 2014.
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.