BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of investors of Impax Laboratories Inc. (“Impax” or the “Company”) (NASDAQ: IPXL) investors concerning the Company and its officers potential violation of federal securities laws.
According to news reports, United States prosecutors may file criminal charges against Impax by the end of 2016 for suspected price collusion.
Bloomberg News has reported that the, “antitrust investigation by the Justice Department, begun about two years ago, now spans more than a dozen companies and about two dozen drugs, according to people familiar with the matter. The grand jury probe is examining whether some executives agreed with one another to raise prices, and the first charges could emerge by the end of the year, they said.”
The companies identified as targets or relevant parties in the United States investigation include Mylan NV, Teva Pharmaceutical Industries Ltd, Allergan Plc, Lannett Co., Impax Laboratories Inc., Sun Pharmaceutical Industries Ltd., Mayne Pharma Group Ltd., Endo International Plc and Taro Pharmaceutical Industries Ltd.
On this news, shares of Impax fell nearly 20% to close at just $16.50 per share on November 3, 2016.
If you purchased Impax securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.