The Law Offices of Nicholas Koluncich III, LLC is investigating possible breaches of fiduciary duty by certain officers and directors of Impax Laboratories (NASDAQ IPXL) (“Impax” or “Company”). Current Impax stockholders are therefore encouraged to contact us for a free evaluation of their right to some form of financial recovery. A lawsuit is pending in United States Federal Court alleging that the Company has “Pervasive Manufacturing and QC [Quality Control] Deficiencies” and that Impax CEO Larry Hsu and CFO Arthur Koch made false statements of material fact concerning, in summary terms:
-The Company’s ability to address and correct the QC deficiencies noted by the FDA; and
-The Company’s ability to timely develop its pipeline of both generic and brand name drugs as a result of those alleged deficiencies.
That lawsuit has already survived initial judicial scrutiny at the motion to dismiss phase. Significantly, on April 24, 2014, six days after a ruling by the Federal Court in that case, the Company announced in its filings made with the SEC that Larry Hsu had resigned his position as President and CEO.
If, as an Impax shareholder, you wish to participate in a possible lawsuit concerning these time sensitive matters, you are encouraged to swiftly contact us at the contact information below.
We particularly encourage long-time stockholders, former employees and any other persons having knowledge about the Company to confidentially contact us.
The initial attorney consultation is free of charge and any future legal expenses would be advanced by our firm. All information shall be treated as attorney client privileged and confidential. Although the outcome of litigation is
assured, as a current Impax shareholder, you may be eligible for some form of financial recovery.
The Law Offices of Nicholas Koluncich III, LLC6501 Americas Parkway NEOne Park Square – Suite 820Albuquerque, NM 87110(505) 881-2228FAX (505) 881-4288
The Law Offices of Nicholas Koluncich III, LLC has been representing individual and institutional investors for over a decade, serving as counsel in numerous securities and derivative litigations in U.S. Federal and state courts.