Faruqi & Faruqi, LLP Has Filed Class Action Lawsuit Against GLG Life Tech Corporation

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) December 27, 2011 -- Shareholders of GLG Life Tech Corporation (“GLG” or the “Company”) (NASDAQ: GLGL) are reminded of the securities class action lawsuit filed against GLG and certain of its officers. The class action (1:11-civ-09150-BSJ), filed in the United States District Court for the Southern District of New York, asserts claims on behalf of all persons who purchase or acquired GLG securities on the NASDAQ between February 1, 2011 and November 13, 2011 inclusive (the “Class Period”).

A copy of the complaint can be viewed on the firm’s website at www.faruqilaw.com/GLGL

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

Plaintiff now seeks to recover damages on behalf of himself and all other investors who purchased or acquired GLG securities on the NASDAQ between February 1, 2011 and November 13, 2011, excluding defendants and their affiliates. Plaintiff is represented by Faruqi & Faruqi, LLP, a national securities law firm with extensive experience in prosecuting class actions involving corporate fraud.

If you wish to obtain information concerning joining this action, you can do so under the “Join Lawsuit” section of our website or by clicking: http://www.faruqilaw.com/GLGL. If you purchased GLG securities during the Class Period, you may move the court to serve as lead plaintiff of the class no later than February 13, 2012. If you have questions, please contact:

Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
ATTN: Richard Gonnello, Esq. or Francis McConville, Esq.

rgonnello@faruqilaw.com or fmcconville@faruqilaw.com
Toll Free: (877) 247-4292
Phone: (212) 983-9330