Gilman Law LLP, a leading national securities law firm, is actively investigating shareholder allegations that GLG Life Tech Corporation (“GLG” or the “Company”) and certain of its officers and directors made materially false and misleading statements or failed to disclose material information related to the company’s business and operations in violation of Section 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10-5 promulgated thereunder.
If you purchased the common stock of GLG (NASDAQ: GLGL) during the period between February 1, 2011 and November 13, 2011 inclusive (the “Class Period”), and either lost money on the transaction or still hold the shares, you may contact Gilman Law LLP by February 13, 2012 to discuss your rights, including as to recovery of your losses or to obtain additional information.
Headquartered in Vancouver, Canada, GLG is a producer of stevia, a zero-calorie, natural sweetener. The Company entered into a joint venture agreement with China Agriculture and Healthy Foods Company Limited called All Natural and Zero Calorie Beverage and Foods (“ANOC”) to sell and distribute all-natural zero calorie brands of beverages in China. The GLG shareholder class action lawsuit alleges that the Company repeatedly and falsely represented to investors the strong growth of business and development of stevia and ANOC. The suit further alleges that GLG failed to inform investors the truth surrounding GLG’s production issues. GLG also failed to inform investors that they were receiving poor consumer response to the Company’s ANOC and stevia products and that the Company would not meet its February 1, 2011 earnings projections. Based upon the foregoing, Defendants lacked a reasonable basis for their positive statements about the Company, its prospects and growth.
Then on October 6, 2011, GLG shocked the market by providing, for the first time, a negative business outlook concerning stevia and ANOC products which caused GLG stock to drop 42% by the close of business. If you wish to join the GLG class action lawsuit filed in the U.S. District Court for the Southern District of New York, please complete our free consultation form or contact Gilman Law LLP at (888) 252-0042.
The lawyers at Gilman Law have extensive experience representing both individual and institutional investors in securities have been involved in all major aspects of securities fraud litigation. The firm specializes in cases involving stock manipulation, securities fraud, and shareholder rights violations. Gilman Law is ready to assist investors nationwide who have sustained losses as a result of GLG’s alleged fraud. For a free evaluation of your case, please contact Gilman Law TOLL FREE at (888) 252-0048.