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SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Files Class Action Suit Against Impax Laboratories, Inc.

/EIN News/ -- WILMINGTON, Del., Jan. 02, 2018 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A.:

Rigrodsky & Long, P.A. announces that it has filed a class action complaint in the United States District Court for the Northern District of California on behalf of holders of Impax Laboratories, Inc. (“Impax”) (NasdaqGS:IPXL) common stock in connection with the proposed acquisition of Impax by Amneal Pharmaceuticals LLC (“Amneal”) announced on October 17, 2017 (the “Complaint”).  The Complaint, which alleges violations of the Securities Exchange Act of 1934 against Impax, its Board of Directors (the “Board”), and Amneal, is captioned Vana v. Impax Laboratories, Inc., Case No. 3:17-cv-07079 (N.D. Cal.).

If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 300 Delaware Avenue, Suite 1220, Wilmington, DE 19801, by telephone at (888) 969-4242, by e-mail at info@rl-legal.com, or at http://rigrodskylong.com/contact-us/

On October 17, 2017, Impax entered into an agreement and plan of merger (the “Merger Agreement”) with Amneal.  Pursuant to the terms of the Merger Agreement, shareholders of Impax will receive one share of Class A common stock of a new holding company, which will be renamed Amneal Pharmaceuticals, Inc., for each share of Impax they own (the “Proposed Transaction”).

Among other things, the Complaint alleges that, in an attempt to secure shareholder support for the Proposed Transaction, defendants issued materially incomplete disclosures in a Form S-4 Registration Statement (the “Registration Statement”) filed with the United States Securities and Exchange Commission.  The Complaint alleges that the Registration Statement omits material information with respect to, among other things, Impax’s and Amneal’s financial projections, the analyses performed by Impax’s financial advisor, and potential conflicts of interest.  The Complaint seeks injunctive and equitable relief and damages on behalf of holders of Impax common stock. 

If you wish to serve as lead plaintiff, you must move the Court no later than March 5, 2018.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities fraud, shareholder corporate, and shareholder derivative litigation on behalf of shareholders in state and federal courts throughout the United States.

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CONTACT:                                                                                             

Rigrodsky & Long, P.A.
Seth D. Rigrodsky
Gina M. Serra
(888) 969-4242
(302) 295-5310
Fax: (302) 654-7530
info@rl-legal.com
http://www.rigrodskylong.com

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