Faruqi & Faruqi, LLP, Wins Appeal in Caraco M&A Litigation

Faruqi & Faruqi, as co-lead counsel, is pleased to announce that the Michigan Appeals Court reversed and remanded the trial court’s decision dismissing the complaint in In re Caraco Pharmaceutical Laboratories Shareholder Litigation. This is a great victory for plaintiffs considering that Michigan law sets a higher bar than Delaware law does for pleading a breach of fiduciary duty in the context of a merger and acquisition involving a controlling shareholder taking a company private. The Michigan Appeals Court decision is attached.