Schatz & Nobel, P.C. Announces Class Action Lawsuit Against IMPAX Laboratories, Inc. HARTFORD, Conn., Nov. 12 /PRNewswire/ -- The law firm of Schatz & Nobel, P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Northern District of California on behalf of all persons who purchased the securities of IMPAX Laboratories, Inc. (NasdaqNM: IPXL) ("IMPAX") between May 5, 2004 and November 3, 2004. (the "Class Period"), including all purchasers in the October 1, 2004 debt offering. The Complaint alleges that during the Class Period, IMPAX violated federal securities laws by issuing materially false or misleading public statements. On November 3, 2004, IMPAX announced that the "Company has postponed its release of 2004 third quarter financial results to Tuesday, November 9, 2004 in order to allow its independent auditors more time to complete their review of the Company's third quarter financial statements, including the timing of certain customer credits on bupropion products marketed by a strategic partner." On this news, IMPAX shares fell from a close of $13.00 per share on November 3, 2004, to close at $10.07 on November 4, 2004. On November 9, 2004, IMPAX announced that its 2004 results would be restated. If you are a member of the class, you may, no later than January 11, 2005, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members, including decisions concerning settlement. The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s). For more information about the case, its claims, and your rights, please contact Schatz & Nobel toll-free at (800) 797-5499, or by e-mail at . To view a copy of the lawsuit initiating the class action, or for more information about class action cases and Schatz & Nobel, please visit our website: http://www.snlaw.net/. CONTACT: Wayne T. Boulton Tel.: (800) 797-5499 Website: http://www.snlaw.net/ e-mail: DATASOURCE: Schatz & Nobel, P.C. CONTACT: Wayne T. Boulton of Schatz & Nobel, +1-800-797-5499, Web site: http://www.snlaw.net/

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