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Class Certified in Pharmaceutical
Securities Fraud Case in Michigan

March 1, 2012, 5:00 AM

The U.S. District Court for the Eastern District of Michigan Feb. 28 certified a plaintiff class of investors in a securities suit against a pharmaceutical company that allegedly concealed material information regarding Food and Drug Administration warnings of problems affecting its business operations (Wilkof v. Caraco Pharmaceutical Laboratories Ltd.).

Senior Judge Arthur J. Tarnow concluded that the claims of the proposed class plaintiffs are typical of those of the class, even though class members bought and sold stocks at various times during the class period and the class includes both institutional and individual investors.

He also concluded that...

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