Faruqi & Faruqi, LLP Files Class Action Lawsuit

Recent Cases

Notice is hereby given that Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the Southern District of New York on behalf of all persons who purchased or acquired GLG Life Tech Corporation securities on the NASDAQ between February 1, 2011 and November 13, 2011 inclusive.

A copy of the complaint can be viewed on the firm’s website at http://www.faruqilaw.com/GLG

GLG and certain of its officers are charged with issuing a series of materially false and misleading statements in violation of Section 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Specifically, the complaint alleges that defendants failed to inform investors: (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.

Plaintiff now seeks to recover damages on behalf of himself and all other investors who purchased or acquired GLG securities on the NASDAQ between February 1, 2011 and November 13, 2011, excluding defendants and their affiliates. Plaintiff is represented by Faruqi & Faruqi, LLP, a national securities law firm with extensive experience in prosecuting class actions and actions involving corporate fraud.

If you wish to obtain information concerning joining this action, you can do so under the “Join Lawsuit” section of our website or by clicking here: http://www.faruqilaw.com/GLG

Related listings

  • Throng of Occupy protesters appear in NY courts

    Throng of Occupy protesters appear in NY courts

    Recent Cases 12/14/2011

    Nearly 200 people arrested during Occupy Wall Street-related protests were in New York courtrooms hundreds of miles apart Wednesday, answering charges that stemmed from a march on the Brooklyn Bridge and a demonstration in a Rochester park. In Manhat...

  • City Council in Pa. capital again seeks bankruptcy

    City Council in Pa. capital again seeks bankruptcy

    Recent Cases 12/13/2011

    The City Council has appealed a judge's decision to throw out the bankruptcy petition of Pennsylvania's debt-choked capital city, its attorney said. The appeal was filed Saturday in federal court, City Council attorney Mark Schwartz said in an email....

  • High court to hear suit over Cheney event arrest

    High court to hear suit over Cheney event arrest

    Recent Cases 12/05/2011

    The Supreme Court said Monday it will hear an appeal from Secret Service agents who say they should be shielded from a lawsuit over their arrest of a Colorado man who confronted Vice President Dick Cheney. The justices will review a federal appeals c...

What Is Meant by ‘No-Fault’ Workers’ Compensation in Illinois?

If you were injured in a work-related accident and have been researching workers’ compensation, you may have seen it described as a “no-fault” system. One of the most important things to understand about the workers’ compensation system in Illinois is that it is based on a “no-fault” system. What does this mean, exactly?

Most employers in Illinois are required by law to have workers’ compensation insurance. And the workers' compensation in Illinois is a “no-fault” system, which means that any worker who has been hurt on the job is entitled to workers' compensation benefits. If you have been hurt on the job, you are entitled to workers’ compensation benefits no matter whose fault the accident was.

A no-fault insurance system, such as workers’ comp, works by paying claims regardless of who is to blame for an accident. This provides an important layer of protection for injured workers, sparing them from having to through additional litigation and the through the additional burden of proving who was at fault before receiving benefits.

In Illinois, even though you don’t have to prove that your injury was your employer’s fault, you do have to prove that your injury happened at work or as a result of work. If you would like help to file your workers' compensation claim, Krol, Bongiorno, & Given’s experienced workers' comp lawyers are here to help. With over 60 years of combined legal experience, the KBG law firm is a leader in the field of workers’ compensation law and we have earned the reputation as aggressive advocates for injured workers before the IWCC.

Business News

Surry County Criminal Defense Lawyers. At DiRusso & DiRusso, we have the legal knowledge and experience to protect you. >> read
Canton, MI Criminal Law Attorney Rita White is a metro Detroit area attorney with a focus on criminal defense. >> read