Investors' Impax Drug Price-Fixing Suit Fails Again

Law360 (August 12, 2019, 10:54 PM EDT) -- A California federal judge on Monday again dismissed a shareholder suit alleging generic-drug maker Impax Laboratories Inc. failed to disclose to investors a federal investigation over possibly collusive market activity, finding the shareholders failed to remedy the issues that got their complaint tossed the first time around.

This time, U.S. District Judge Haywood S. Gilliam Jr. did not grant leave to amend the complaint led by a New York pension fund for hotels accusing Impax of colluding with its competitors to fix the prices of two generic drugs used to treat central nervous system disorders.

"Plaintiff's theory relies on the unreasonable...

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