Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor, LLP announce an investigation into potential violations of federal securities laws by certain officers and directors of Impax Laboratories, Inc. (“Impax” or “Company”) (NasdaqGS: IPXL).
If you are an affected investor and you want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Zachary Groover at Powers Taylor, LLP, toll free (877) 728-9607. There is no cost or fee to you.
On March 4, 2013 Impax announce that a second Form 483 inspectional observation notice from the Food & Drug Administration noted twelve observations, three of which were repeat observations, that could negatively impact the Company’s new and pending applications with the FDA. Due to this news the stock price of Impax dropped significantly.
“Recent revelations about alleged improper business practices and procedures regarding key aspects of Impax’s business and other misleading financial statements have prompted the firms to investigate possible breaches of fiduciary duties and other violations of state law by Impax’s officers and directors. Based on our investigation, we are prepared to pursue litigation to preserve the company and the value of Impax stock for all shareholders,” said shareholder rights attorney Willie Briscoe.The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters. Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.