NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of all persons or entities who purchased or otherwise acquired Impax Laboratories, Inc. (NASDAQ:IPXL) securities between February 20, 2014 and November 3, 2016 (the “Class Period”).
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Impax was and/or had been involved in conduct that would result in an antitrust investigation by the U.S. Department of Justice and the State of Connecticut Office of the Attorney General; (2) the DOJ may file criminal charges against Impax for alleged price manipulation; (3) as a result, Impax lacked effective internal controls; and (4) consequently, Impax’s public statements were materially false and misleading throughout the Class Period.
On November 3, 2016, Bloomberg News reported that Impax is being investigated by the Justice Department. Bloomberg News said 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.” Following this news, Impax shares declined $4.00 per share on November 3, 2016.
If you purchased or otherwise acquired Impax securities during the Class Period and suffered a loss or continue to hold shares purchased prior to the Class Period, 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 J. Brandon Walker, Esq. by email at email@example.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information, please go to www.bespc.com.