DETROIT, July 23 /PRNewswire-FirstCall/ -- Caraco Pharmaceutical Laboratories, Ltd. (NYSE Amex: CPD) announced that on July 17, 2009 and July 23, 2009, two purported federal securities class action lawsuits were filed in the United States District Court for the Eastern District of Michigan against the Company and certain of its executive officers. The defendants have not yet been served with either suit. Plaintiffs purport to represent the class of persons who purchased or otherwise acquired the common stock of the Company generally between May 29, 2008 and June 25, 2009. Plaintiffs generally allege that during this time period defendants violated federal securities laws, primarily related to public statements on FDA compliance. The Company believes the plaintiffs’ allegations are without merit and intends to vigorously contest the actions.
