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| GLG Life Tech Corporation |
| GLG Life Tech Corporation (Nasdaq: GLGL) shareholder litigation in connection with alleged securities fraud |
Levi & Korsinsky announces that a class action
lawsuit has commenced in the U.S. District Court for
the Southern District of New York on behalf of
investors who purchased GLG Life Tech Corporation
(“GLG” or the “Company”) (Nasdaq: GLGL) securities
between February 1, 2011 and November 13, 2011
(the “Class Period”).
lawsuit has commenced in the U.S. District Court for
the Southern District of New York on behalf of
investors who purchased GLG Life Tech Corporation
(“GLG” or the “Company”) (Nasdaq: GLGL) securities
between February 1, 2011 and November 13, 2011
(the “Class Period”).
The complaint alleges that defendants' positive statements about the Company were lacking in a
reasonable basis of fact and thus were materially false and misleading. Throughout the Class
Period, GLG issued positive statements regarding its business growth and development in relation
to the sale of stevia and ANOC. The complaint alleges that defendants failed to inform investors of:
(1) the truth surrounding GLG’s production issues; (2) the poor consumer response to the Company’
s AN0C and stevia products; and (3) that the Company would not meet its February 1, 2011 earnings
projections.
On October 6, 2011, the Company disclosed for the first time a negative business outlook associated
with its stevia and AN0C products, causing GLG stock to drop 42% by the close of business.
Subsequently, on November 14, 2011, GLG announced disappointing financial results for the fiscal
quarter ending September 30, 2011 and refused to provide any further guidance on future
performance.
If you suffered a loss in GLG you have until February 13, 2012 to request that the Court appoint you
as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead
plaintiff.
reasonable basis of fact and thus were materially false and misleading. Throughout the Class
Period, GLG issued positive statements regarding its business growth and development in relation
to the sale of stevia and ANOC. The complaint alleges that defendants failed to inform investors of:
(1) the truth surrounding GLG’s production issues; (2) the poor consumer response to the Company’
s AN0C and stevia products; and (3) that the Company would not meet its February 1, 2011 earnings
projections.
On October 6, 2011, the Company disclosed for the first time a negative business outlook associated
with its stevia and AN0C products, causing GLG stock to drop 42% by the close of business.
Subsequently, on November 14, 2011, GLG announced disappointing financial results for the fiscal
quarter ending September 30, 2011 and refused to provide any further guidance on future
performance.
If you suffered a loss in GLG you have until February 13, 2012 to request that the Court appoint you
as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead
plaintiff.
