An investigation on behalf of investors of Impax Laboratories Inc (NASDAQ:IPXL) in connection with the proposed takeover was announced and NASDAQ:IPXL stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/08/2017 -- An investigation was announced for investors who currently hold shares of Impax Laboratories Inc (NASDAQ:IPXL), was announced over the takeover of Impax Laboratories Inc.
Investors who purchased shares of Impax Laboratories Inc (NASDAQ:IPXL) and currently hold any of those NASDAQ:IPXL shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain directors of Impax Laboratories Inc breached their fiduciary duties owed to NASDAQ:IPXL investors in connection with the proposed acquisition.
NASDAQ: IPXL) announced that they have entered into a business combination in an all-stock transaction. As a result of the transaction, Amneal Holdings members will own approximately 75% and Impax Laboratories Inc (NASDAQ:IPXL) shareholders will own approximately 25% of the new company's pro forma shares on an as converted basis.
However, given that at least one analyst has set the high target price for NASDAQ:IPXL shares at $35.00 per share and given that NASDAQ:IPXL shares traded in the open market as recently as September 2017 as high as $23.80 per share, the investigation concerns whether the offer is unfair to NASDAQ:IPXL stockholders. More specifically, the investigation concerns whether the Impax Laboratories Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On December 7, 2017, NASDAQ:IPXL shares closed at $16.35 per share.
Those who are current investors in Impax Laboratories Inc (NASDAQ:IPXL) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com