WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Impax Laboratories, Inc. (“IPXL” or the “Company”) (NASDAQ: IPXL) in connection with the proposed acquisition of the Company by Amneal Holdings LLC (“Amneal”). On October 17, 2017, the Company announced that it had reached a definitive agreement for Amneal to acquire all outstanding shares of IPXL in a stock-for-stock transaction.
WeissLaw is investigating whether IPXL’s Board acted to maximize shareholder value prior to entering into the agreement. Notably, Amneal’s members will own an astounding 75% of the newly combined company as compared to the meagre 25% left over for IPXL’s shareholders. Additionally, the deal is a lopsided transaction that heavily favors the interests of Amneal at the expense of IPXL and its shareholders. According the acquisition announcement, the deal will position the newly-formed Amneal Pharmaceuticals Inc. as the fifth largest generics business in the United States with strong growth in gross revenue and high margins.
Given these facts, WeissLaw is investigating whether IPXL’s Board acted in the best interests of IPXL’s public shareholders to maximize shareholder value prior to entering into the agreement. If you own IXYS shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslawllp.com/impax-laboratories-inc/