Impax Securities Plaintiffs Seek To Finalize $9M Deal

Law360, New York (April 15, 2009, 12:00 AM EDT) -- Plaintiffs' lawyers are seeking final approval of a $9 million settlement involving allegations that generic-drug company Impax Laboratories Inc. artificially inflated the value of its stock by making false and misleading statements about its financial results.

In a motion filed Tuesday with the U.S. District Court for the Northern District of California, lead plaintiffs' counsel Coughlin Stoia Geller Rudman & Robbins LLP said that notice of the settlement had already been sent to over 15,000 potential class members.

“Here a balance of ... factors weighs heavily...
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