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After U.S. FDA Action, Investors Take Caraco To Court Alleging Violation Of Securities Laws

This article was originally published in PharmAsia News

Executive Summary

MUMBAI - A group of shareholders of U.S.-based generic drug maker Caraco Pharmaceutical has taken the company to court alleging that it violated securities laws by "recklessly disregarding May 29, 2008 and June 25, 2009 that their public statements concerning Caraco's business, operations and prospects were materially false and misleading." One of India's top generic drug makers, Sun Pharma, owns a majority 76 percent equity stake in Caraco

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