Case Details for "Caraco"

Investigation of Caraco Pharmaceutical Laboratories Ltd.

The investigation focuses on whether Caraco (AMEX:CPD), the maker of generic pharmaceuticals, made false or misleading statements or failed to disclose that the company's manufacturing processes were not compliant with the FDA's Good Manufacturing Practice requirements. This investigation was prompted by news reports on June 25, 2009 stating that U.S. Marshals recently seized drug products manufactured by Caraco from the company's facilities. In response to this disclosure, shares of Caraco stock plummeted from $4.15 per share to as low as $1.75 per share on June 25, 2009.

Posted on:07/16/2009
Company: Caraco
Affected Class: Unspecified shareholders
Scope: Nationwide

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