HAYWARD, Calif.--(BUSINESS WIRE)--IMPAX Laboratories, Inc. (OTC: IPXL) (“IMPAX” or “the Company”) reported that on April 30, 2007, an Administrative Law Judge (“ALJ”) of the Securities and Exchange Commission (“Commission”) issued an initial decision that, if upheld by the Commission itself, would result in the revocation of the registration of the Company’s common stock under section 12 of the Securities Exchange Act of 1934. The Company will file a timely appeal to the Commission and hopes to persuade the Commission, based upon the evidence developed in a two-day hearing in February before the ALJ, that revocation or suspension of such registration is neither necessary nor appropriate for the protection of investors. The ALJ’s decision will not be effective during the pendency of the appeal.
