Investors Sue Caraco Over Plant Inspections, Raids

Law360, New York (July 20, 2009, 4:33 PM EDT) -- Caraco Pharmaceutical Laboratories Ltd. has been hit with a putative securities class action alleging the generic-drug maker misled investors about the conditions of its manufacturing plants, which prompted an ongoing probe by the U.S. Food and Drug Administration and a subsequent drop in stock price.

In a complaint filed Friday in the U.S. District Court for the Eastern District of Michigan, investor Jonathan Wilkof claims that Caraco's wrongful acts and omissions about its facilities and business have caused him and other proposed class members to suffer...
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