GLG Life Tech Corporation
Class Period: Feb 1, 2011 to Nov 13, 2011
Lead Plaintiff Deadline: Feb 12, 2012 + Deadline passed
Summary of Case:
A securities class action has been filed against GLG Life Tech Corporation ("GLG" or the "Company"") on behalf of investors who purchased or otherwise acquired GLG common stock between February 1, 2011 and November 13, 2011, inclusive (the "Class Period"),. This case has been filed in the USDC - SOUTHERN DISTRICT OF NEW YORK).
The Complaint alleges that GLG went public purporting to supply stevia extract, an all-natural zero-calorie sweetener, to the food and beverage industry worldwide. On October 6, 2011, GLG shocked the market by issuing a negative business outlook purportedly caused by production issues and weaker than expected demand for the Company's products. As the truth regarding GLG started settling in, unsuspecting investors watched the price of GLG's common stock drop from a Class Period high of $12.45 per share to $2.01 on November 14, 2011, a decline of approximately 84%.
Through this action, Plaintiff seeks to recover for himself and absent Class members (defined below) the devastating losses that were suffered as a result of the Defendants' fraud.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.