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A copy of the Complaint is available from the court or from Glancy Binkow & Goldberg LLP. Please contact us by phone to discuss this action or to obtain a copy of the Complaint at (310) 201-9150 or Toll Free at (888) 773-9224, by email at info@glancylaw.com, or visit our website at http://www.glancylaw.com.
Caraco is engaged primarily in the business of developing, manufacturing, marketing and distributing generic and private-label pharmaceuticals to the nation's largest wholesalers, distributors, warehousing and non-warehousing chain drugstores and managed care providers. The Complaint charges Caraco and certain of the Company's executive officers with violations of sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and S.E.C. Rule 10b-5, and further alleges that throughout the Class Period defendants failed to disclose, among other things, that the Company failed to meet the United States Food and Drug Administration's ("FDA") current Good Manufacturing Practice requirements and had failed to remedy repeat violations of FDA regulations previously observed and documented by the FDA, which significantly jeopardized the Company's ability to gain FDA approval of pending new drug applications.
The Private Securities Litigation Reform Act of 1995 ("PSLRA") requires the Court to appoint a "Lead Plaintiff" in this case. Any person or group who purchased Caraco securities during the Class Period and suffered a loss may ask the Court to be appointed as Lead Plaintiff, but must file a motion no later than the September 15, 2009 deadline.
Glancy Binkow & Goldberg LLP is a law firm with significant experience in prosecuting class actions, substantial expertise in actions involving corporate fraud, and is representing shareholders of Caraco in this litigation.
If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, or Richard A. Maniskas, Esquire, of Glancy Binkow & Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by e-mail to info@glancylaw.com.
SOURCE: Glancy Binkow & Goldberg LLP
Glancy Binkow & Goldberg LLP, Los Angeles, CA Lionel Z. Glancy, 310-201-9150 or 888-773-9224 Michael Goldberg Richard A. Maniskas info@glancylaw.com www.glancylaw.com
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