Caraco Pharmaceutical Laboratories Ltd. CPD - Holzer Holzer & Fistel, LLC proclaim that a class action lawsuit has been filed in the United States District Court for the Eastern District of Michigan on behalf of purchasers of Caraco Pharmaceutical Laboratories, Ltd. ("Caraco" or the "Company") (AMEX: CPD) who acquired shares between May 29, 2008 and June 25, 2009, inclusive (the "Class Period"). The lawsuit alleges the Company failed to disclose problems it was having complying with certain FDA regulations. Further, the complaint alleges that Caraco misrepresented or failed to disclose material information relating to its efforts to obtain FDA approval for certain of its drugs.
If you purchased shares of Caraco common stock during the Class Period, you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy assured criteria and be made no later than September 15, 2009. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their option, or may choose to do nothing and remain an absent class member.
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