Robbins Umeda LLP Announces an Investigation of Impax Laboratories, Inc.

Robbins Umeda LLP, a shareholder rights litigation firm, has commenced an investigation into possible breaches of fiduciary duty and other violations of the law by certain officers and directors at Impax Laboratories, Inc. (NASDAQ: IPXL). Impax Laboratories develops, manufactures, and markets bioequivalent pharmaceutical products. The company's two divisions, Impax Pharmaceuticals and Global Pharmaceuticals, provide generic and proprietary brand products to wholesale and drug retail chains. The company was founded in 1933, and is headquartered in Hayward, California.

If you own stock in Impax Laboratories and would like more information about your shareholder rights, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or via the shareholder information form on our website.

Robbins Umeda LLP is investigating whether officers and directors of Impax Laboratories breached their fiduciary duties to shareholders by permitting insufficient controls and improper procedures at one of the company's main pharmaceutical manufacturing facilities. On May 31, 2011, the Food and Drug Administration ("FDA") sent the company a warning letter, documenting "significant violations of Current Good Manufacturing Practice." The letter came after the agency toured the company's Hayward manufacturing facility on January 11, 2011, and observed deviations related to sampling and testing of in-process materials and drug products, production record review, and the company's process for probing the failure of some manufacturing batches to meet specifications.

After the public learned about the FDA warning letter, the company's stock price fell 10%. Additionally, several market analysts have voiced concerns over Impax Laboratories' ability to meet quarterly revenue numbers given the on-going production problems at the company's pharmaceutical manufacturing facility.

Robbins Umeda LLP represents individual and institutional shareholders in derivative, direct, and class action lawsuits. Robbins Umeda LLP has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. The law firm's skilled litigation teams include former federal prosecutors, former defense counsel from top multinational corporate law firms, and career shareholder rights attorneys. For more information, please go to http://www.robbinsumeda.com

Press release link: http://www.robbinsumeda.com/shareholders-rights-blog/impax-laboratories-inc/

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