Impax Misled Investors About Manufacturing Issues, Suit Says

Law360, New York (April 9, 2013, 2:28 PM EDT) -- Impax Laboratories Inc. was hit with a proposed class action in California federal court Monday, accusing it of misleading investors about poor conditions at one of its manufacturing plants, delaying approval for two proposed drugs and causing its stock to trade at inflated prices.

According to pension fund Haverhill Retirement System, Impax and three of its current and former top executives had issued false and misleading public statements about deficiencies at its Hayward, Calif., manufacturing plant and how they would affect regulatory approval of its planned...
To view the full article, register now.