June 26, 2013 - The court approved the settlement, entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissed the action with prejudice.
March 11, 2013 - The court preliminarily approved the settlement.

February 28, 2013 - Parties filed a stipulation of settlement.

October 21, 2010 - The court granted in part, the defendants' motion to dismiss, dismissing all claims against a particular defendant and denied in part the remaining claims.

April 12, 2010 - The defendants filed a motion to dismiss.

February 11, 2010 - The lead plaintiff filed an amended complaint.

January 13, 2010 - The lead plaintiff and lead counsel were appointed.

September 15, 2010 - A lead plaintiff motion was filed.

July 23, 2009 - Another investor filed a complaint.

July 17, 2009 - An investor in shares of Caraco Pharmaceutical Laboratories Ltd (AMEX: CPD) filed a lawsuit in the U.S. District Court for the Eastern District of Michigan against Caraco Pharmaceutical Laboratories Ltd over alleged violations of Federal Securities Laws between May 29, 2008 and June 25, 2009.

According to the complaint the plaintiff alleges that Caraco Pharmaceutical Laboratories Ltd and certain of the its executive officers violated federal securities laws, between May 29, 2008 and June 25, 2009, by knowing or recklessly disregarding that their public statements concerning Caraco Pharmaceutical Laboratories Ltd's business, operations, and prospects were materially false and misleading.

On June 25, 2009, the FDA announced that U.S. authorities have seized all medicines produced by generic drug maker Caraco Pharmaceutical Laboratories Ltd following repeated violations of manufacturing standards according to health officials. Subsequently an investigation by a law firm concerning allegedly false and misleading statements and material omissions between May 29, 2008 and June 25, 2009 by Caraco Pharmaceutical Laboratories Ltd, and reports that on June 25, 2009 was announced. Caraco Pharmaceutical Laboratories Ltd announced on Thursday, June 25, 2009, that U.S. Marshals, at the request of the FDA, arrived and seized drug products manufactured in its Michigan facilities and that the seizure also included ingredients held at these same facilities, but that products distributed by Caraco Pharmaceutical Laboratories Ltd that are manufactured outside of these facilities are not impacted. The FDA's inspection of Caraco Pharmaceutical Laboratories Ltd's Detroit facility, completed in May 2009, found unresolved violations of cGMP requirements as previously disclosed in last SEC filing on Form 10-K filed June 15, 2009, so Caraco Pharmaceutical Laboratories Ltd in its press release.

According to the FDA, the seizure followed Caraco Pharmaceutical Laboratories Ltd’s continued failure to meet the FDA’s current Good Manufacturing Practice requirements, which assure the quality of manufactured drugs. The FDA said in a statement that This action follows Caraco's continued failure to meet manufacturing standards that assure drug quality and the FDA through the seizure seeks “to stop the firm from further distributing drugs until there is assurance that the firm complies with good manufacturing requirements. . Caraco Pharmaceutical Laboratories Ltd was warned about manufacturing problems in an FDA letter sent in October 2008, said FDA consumer safety officer David Jaworski. As a result, so the lawsuit, shares of Caraco Pharmaceutical Laboratories Ltd (AMEX: CPD) declined $1.79 per share, or approximately 43%, to close on June 25, 2009, at $2.39 per share, on unusually heavy volume.

Shares of Caraco Pharmaceutical Laboratories Ltd (AMEX: CPD) fell on Thursday June 25, 2009 from $4.30 per share to $1.93 per share, and closed at $2.39 per share on June 25, 2009. Since January 2009, Caraco Pharmaceutical Laboratories Ltd has had to initiate voluntary recalls of drug products to protect the public from potentially defective medications and the recalls involved manufacturing defects, including oversized tablets and possible formulation error, so the investigation. FDA officials advised consumers now taking medicines made by Caraco Pharmaceutical Laboratories Ltd should not stop since any defective drugs have come off the market in a series of recalls since January.

On June 26, 2009 Caraco Pharmaceutical Laboratories Ltd announced that the products in its inventory related to the FDA action are currently being identified and the early estimated value of this inventory is in the range of $15 to $20 million. In addition Caraco Pharmaceutical Laboratories Ltd announced that it expects that with a cash balance as of June 25, 2009 of approximately $64 million which includes a loan of $18 million Caraco Pharmaceutical Laboratories Ltd’s financial position will allow Caraco Pharmaceutical Laboratories Ltd the time to resolve its pending FDA issues.

Caraco Pharmaceutical Laboratories Ltd, Detroit, MI, is engaged in the business of developing, manufacturing, marketing and distributing generic and private-label pharmaceuticals to wholesalers, distributors, warehousing and non-warehousing chain drugstores and managed care providers, throughout the United States and Puerto Rico. Caraco Pharmaceutical Laboratories Ltd reported $350.37million in Total Revenue with a net income of $35.39million in 2007 and $337.18million in Total Revenue with a net income of $20.54million in 2008. Shares of Caraco Pharmaceutical Laboratories Ltd. (AMEX: CPD) closed on Friday, June 26, 2009 at $3.39 per share, down from a 52weekHigh of $16.40 per share and $18.50 per share in April 2008.