GLG Life Tech Corporation produces and sells zero-calorie natural sweeteners such as stevia and monk fruit extracts to the food and beverage industry.

According to a press release dated December 14, 2011, the Company and certain of its officers are charged with issuing a series of materially false and misleading statements in violation of Section 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Specifically, the Complaint alleges that Defendants failed to inform investors: (1) the truth surrounding the Company’s production issues; (2) the poor consumer response to the Company’s AN0C and stevia products; and (3) that the Company would not meet its February 1, 2011 earnings projections.

On October 6, 2011, GLG Life Tech disclosed for the first time a negative business outlook associated with its stevia and AN0C products, causing its stock to drop 42% by the close of business. Subsequently, on November 14, 2011, the Company announced disappointing financial results for the fiscal quarter ending September 30, 2011 and refused to provide any further guidance on future performance.

On March 21, 2012, an order granting the Lardy Investor Group's motion for consolidation; appointment as lead Plaintiff; and approval of lead Counsel was issued by the Court.

On May 10, 2012, a consolidated securities Class Action Complaint was filed by the lead Plaintiffs against the Defendants.

On March 15, 2013, an amended consolidated securities Class Action Complaint was filed by the lead Plaintiffs against the Defendants.

On March 29, 2013, a motion to dismiss the Plaintiff's amended consolidated securities Class Action Complaint was filed by GLC Life Tech, Brian Meadows, and Luke Zhang.

On January 31, 2014, the Court issued an order granting the Defendants' motion to dismiss. The Clerk of Court was directed to terminate this action.