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Glancy Binkow & Goldberg LLP Announces Proposed Settlement of Class Action in the In Re Caraco Pharmaceutical Laboratories, Ltd.

Glancy Binkow & Goldberg LLP Announces Proposed Settlement of Class Action in
the In Re Caraco Pharmaceutical Laboratories, Ltd. Securities Litigation

LOS ANGELES, April 22, 2013 (GLOBE NEWSWIRE) -- The following statement is
being issued by Glancy Binkow & Goldberg LLP regarding the In Re Caraco
Pharmaceutical Laboratories, Ltd. Securities Litigation.

UNITED STATES DISTRICT COURT
FOR THE EASTERN DISTRICT OF MICHIGAN
SOUTHERN DIVISION

IN RE CARACO PHARMACEUTICAL LABORATORIES, LTD. SECURITIES LITIGATION, Case No.
2:09-cv-12830-AJT-DAS, SUMMARY NOTICE

TO: ALL PERSONS OR ENTITIES WHO PURCHASED OR ACQUIRED CARACO PHARMACEUTICAL
LABORATORIES, LTD. SECURITIES BETWEEN MAY 29, 2008 AND JUNE 25, 2009,
INCLUSIVE.

YOU ARE HEREBY NOTIFIED, pursuant to Order of the United States District Court
for the Eastern District of Michigan, that a hearing will be held on June 25,
2013, at 2:30 p.m., before the Honorable Arthur J. Tarnow, at the United
States District Court for the Eastern District of Michigan, Theodore Levin
U.S. Courthouse, 231 W. Lafayette Blvd., Courtroom 108, Detroit, Michigan
48226, for the purpose of determining: (1) whether the proposed Settlement of
the claims in the Litigation for the sum of $2.975 million in cash should be
approved by the Court as fair, reasonable, and adequate to Members of the
Class; (2) whether, thereafter, this Litigation should be dismissed with
prejudice pursuant to the terms and conditions set forth in the Stipulation of
Settlement dated February 27, 2013; (3) whether the proposed plan to
distribute the settlement proceeds (the "Plan of Allocation") is fair,
reasonable, and adequate and therefore should be approved; and (4) whether the
application of Class Counsel for the payment of attorneys' fees and expenses
incurred in connection with this Litigation and reimbursement of Plaintiffs'
reasonable costs and expenses (including lost wages) directly related to their
representation of the Class should be approved. All capitalized terms used
herein shall have the meaning assigned to them in the Stipulation of
Settlement, dated February 27, 2013. If you purchased or acquired Caraco
Pharmaceutical Laboratories, Ltd. securities between May 29, 2008 and June 25,
2009, inclusive, your rights may be affected by this Settlement. If you have
not received a detailed Notice of Proposed Settlement of Class Action, Motion
for Attorneys' Fees and Expenses, and Settlement Fairness Hearing (the
"Notice") and a copy of the Proof of Claim and Release, you may obtain copies
by writing to In re Caraco Pharma. Labs., Ltd. Sec. Litig., c/o GCG, P.O. Box
35051, Seattle, WA 98124-3508, or you can download a copy at
www.GCGINC.com.If you are a Class Member, in order to share in the
distribution of the Net Settlement Fund, you must submit a Proof of Claim and
Release postmarked no later than August 8, 2013, establishing that you are
entitled to recovery.You will be bound by any Judgment rendered in the
Litigation whether or not you make a claim, unless you request exclusion from
the Class.

If you wish to request exclusion from the Class you must do so in writing by
May 28, 2013 and in accordance with the procedures set forth in the Notice.If
you request exclusion from the Class you will not participate in the
distribution of the Settlement Fund and you will not be bound by the Judgment
in the Litigation.If your exclusion request fails to contain all the
information required in the Notice, or otherwise fails to comply with the
procedures set forth in the Notice, it will be invalid and you will be bound
by the terms and conditions of the Stipulation of Settlement and Judgment.

Any Class Member may file an objection to the Settlement, if he, she, or it
has any information why the proposed Settlement of the Litigation should not
be approved or why Judgment should not be entered thereon; why any attorney's
fees, costs, or expenses requested by Lead Counsel or Lead Plaintiff should
not be awarded; or why the Plan of Allocation should not be approved;
provided, however, that no Class Member may be entitled to appear (physically
or telephonically) at the Settlement Hearing or contest approval of the terms
and conditions of the Settlement unless, his, her, or its objection or
opposition, including the basis therefore, is made in writing and mailed or
delivered such that it is filed with the Court and served on each of the
following no later than May 28, 2013:

Clerk of the Court:

Clerk of the Court
United States District Court
Eastern District Of Michigan
Theodore Levin U.S. Courthouse
231 West Lafayette Boulevard, Room 564
Detroit, MI 48226


Class Counsel Designees:

Peter A. Binkow, Esq.
Glancy Binkow & Goldberg LLP
1925 Century Park East, Suite 2100
Los Angeles, CA 90067

E. Powell Miller, Esq.
The Miller Law Firm, P.C.
950 West University Drive, Suite 300
Rochester, MI 48307


Defendants' Counsel Designee:

Frank A. Taylor, Esq.
Briggs And Morgan, P.A.
2200 IDS Center
80 South Eighth Street
Minneapolis, MN 55402

PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE OR CARACO PHARMACEUTICAL
LABORATORIES, LTD. REGARDING THIS NOTICE.

If you have any questions about the Settlement, you may contact Class Counsel
at either of the addresses listed below:

Peter A. Binkow, Esq.
Glancy Binkow & Goldberg LLP
1925 Century Park East, Suite 2100
Los Angeles, CA 90067
1 (888) 773-9224
settlements@glancylaw.com

E. Powell Miller, Esq.
The Miller Law Firm, P.C.
950 West University Drive, Suite 300
Rochester, MI 48307
1 (248) 841-2200
epm@millerlawpc.com

or go to the following website: www.GCGINC.com.

CONTACT: Media Contact(s):
         Peter A. Binkow, Esq.
         Glancy Binkow & Goldberg LLP
         1 (888) 773-9224
 
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