San Diego, CA -- (SBWIRE) -- 03/06/2013 -- An investigation on behalf of investors of Impax Laboratories Inc (NASDAQ:IPXL) shares over potential securities laws violations by Impax Laboratories Inc and certain of its directors and officers in connection certain financial statements was announced.

Investors who purchased shares of Impax Laboratories Inc (NASDAQ:IPXL), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Impax Laboratories Inc (NASDAQ:IPXL) concerning whether a series of statements by Impax Laboratories Inc regarding its business, its prospects and its operations for the Hayward facility were materially false and misleading at the time they were made.

Impax Laboratories Inc (NASDAQ:IPXL) reported that its annual Total Revenue rose from $512.92 million in 2011 to $581.69 million in 2012. However, its Net Income declined from $65.50 million in 2011 to $55.87 million in 2012.

Shares of Impax Laboratories Inc (NASDAQ:IPXL) traded in 2011 as high as $27.52 per share and in 2012 as high as $26.68 per share.

On March 04, 2013, Impax Laboratories, Inc. (NASDAQ: IPXL) announced that the U.S. Food and Drug Administration (FDA) completed its re-inspection of the Company’s Hayward manufacturing facility in connection with the previously disclosed Form 483 issued in March 2012.

Impax Laboratories Inc said that at the conclusion of this inspection, the FDA issued a new Form 483 with twelve (12) observations, three (3) of which are designated as repeat observations from inspections that occurred prior to the Warning Letter.

Shares of Impax Laboratories Inc (NASDAQ:IPXL) dropped from $20.00 on March 4, 2013, to as low as $14.49 per share on March 5, 2013.

Those who purchased shares of Impax Laboratories Inc (NASDAQ:IPXL), have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com