Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Impax Laboratories Inc. - Siouxland News - KMEG 14 and FOX 44
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SOURCE Bronstein, Gewirtz & Grossman, LLC
NEW YORK, March 6, 2013 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Impax Laboratories Inc. ("Impax" or the "Company") (NasdaqGS: IPXL). The investigation focuses on whether the Company and its executives violated federal securities laws.
On March 4, 2013, Shares of Impax dropped $4.10, or 20.5 percent, to $15.90 in aftermarket trading 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. The FDA sent Impax a warning letter in January 2011 based on an inspection of the Hayward, Calif., plant, and found other problems in a March 2012 inspection. The March 2012 inspection, the FDA said the original problems had been addressed, but it found problems in its quality control laboratory. Shares of Impax stock were down over 25% in early trading on March 5, 2013 from its prior days close.
If you are aware of any facts relating to this investigation, or purchased shares of Impax, you can assist this investigation by contacting either Peretz Bronstein or Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email eitan@bgandg.com. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman, 212-697-6484
eitan@bgandg.com
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