SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Johnson & Weaver, LLP has commenced an investigation into whether Impax Laboratories (Nasdaq:IPXL) and/or its directors and officers violated state or federal securities laws in relation to recent Food and Drug Administration (FDA) warnings.
Trading of Impax Laboratories shares was halted in aftermarket hours following the Company’s announcement that the FDA issued a new Form 483 with twelve observations, three of which are designated as repeat observations from past inspections. New and pending applications that relate to the Hayward, California manufacturing facility may be withheld by the FDA until the Form 483 problems are solved. Impax stock was down over 25% in early trading on March 5, 2013, the day following the Company’s announcement which was made after trading hours.
Johnson & Weaver's investigation is ongoing and addresses the potential violations related to the actions of Impax, its directors and officers. Jim Baker, Lead Analyst for Johnson & Weaver, stated that, "I would think that Impax would have complied with the FDA Form 483 warnings by this time, especially the issues from the March 2012 inspection.”
If you have information that could assist in this investigation or if you are an Impax shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (email@example.com) or Frank Johnson (firstname.lastname@example.org) by email or by phone at 619-230-0063.
Johnson & Weaver, LLP is a nationally recognized shareholders' rights law firm. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com.