Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in GLG Life Tech Corporation to Inqui...
December 16 2011 - 5:39PM
Marketwired
Brower Piven, A Professional Corporation announces that a class
action lawsuit has been commenced in the United States District
Court for the Southern District of New York on behalf of purchasers
of the common stock of GLG Life Tech Corporation ("GLG" or the
"Company") (NASDAQ: GLGL) during the period between February 1,
2011 and November 13, 2011, inclusive (the "Class Period").
If you have suffered a net loss for all transactions in GLG Life
Tech Corporation common stock during the Class Period, you may
obtain additional information about this lawsuit and your ability
to become a lead plaintiff by contacting Brower Piven at
www.browerpiven.com, by email at hoffman@browerpiven.com, by
calling 410/415-6616, or at Brower Piven, A Professional
Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153.
Attorneys at Brower Piven have combined experience litigating
securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of
the Class will be represented by the lead plaintiff and counsel
chosen by the lead plaintiff. If you wish to choose counsel to
represent you and the Class, you must apply to be appointed lead
plaintiff no later than February 13, 2012 and be selected by the
Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement and how much of a settlement to accept for the Class in
the action. The lead plaintiff will be selected from among
applicants claiming the largest loss from investment in the Company
during the Class Period. You are not required to have sold your
shares to seek damages or to serve as a Lead Plaintiff.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the Company issuing
during the Class Period false and misleading press releases touting
substantial stevia extract sales, the launch of a nationwide All
Natural and Zero Calorie Beverage and Foods ("AN0C") advertising
campaign, the warm reception from Chinese consumers to AN0C
products, the shipment of approximately 27 million AN0C products to
the Chinese market and the development of a 65,000 distributor
network carrying AN0C products. According to the complaint, after,
on October 6, 2011, the Company disclosed for the first time a
negative business outlook associated with its stevia and AN0C
products, and, after, 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, the value of GLG shares declined
significantly.
If you choose to retain counsel, you may retain Brower Piven
without financial obligation or cost to you, or you may retain
other counsel of your choice. You need take no action at this time
to be a member of the class.
CONTACT: Charles J. Piven Brower Piven, A Professional
Corporation Stevenson, Maryland 410/415-6616 Email Contact
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