DALLAS--(BUSINESS WIRE)--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 that a federal class action lawsuit has been filed against Impax Laboratories Inc. (“Impax”) (NASDAQ: IPXL) and several officers and directors for acts taken during the period of February 25, 2014 and November 3, 2016 (the “Class Period”).
Based upon the allegations in the class action, the firms are investigating additional legal claims against the officers and Board of Directors of Impax. If you are an affected Impax shareholder and want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC via email at firstname.lastname@example.org, Patrick Powers at Powers Taylor LLP via email at email@example.com, or call toll free at (877) 728-9607. There is no cost or fee to you.
According to the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges, among other things, that defendants issued materially false and misleading statements and/or failed to disclose that: (i) Impax and several of its pharmaceutical industry peers colluded to fix generic drug prices in violation of U.S. antitrust laws; (ii) Impax’s revenues during the Class Period were in part the result of illegal conduct; and (iii) as a result of the foregoing, Impax’s public statements were materially false and misleading at all relevant times. On November 3, 2016, news outlets reported that U.S. prosecutors might file criminal charges against Impax by the end of 2016 following an investigation of Impax and several other pharmaceutical companies for unlawfully colluding to fix generic drug prices. Impax stock dropped significantly immediately following this announcement.
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.