Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Impax to Amneal Pharmaceuticals LLC. Under the terms of the transaction, shareholders of Impax will receive shares in Amneal and ultimately own approximately 25% of the new company’s pro forma shares.
The investigation concerns whether the Board of Impax breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Amneal is underpaying for Impax shares, thus unlawfully harming Impax shareholders.