UNITED STATES DISTRICT COURT 

FOR THE EASTERN DISTRICT OF MICHIGAN 

SOUTHERN DIVISION 

IN RE CARACO PHARMACEUTICAL 

LABORATORIES, LTD. SECURITIES 

LITIGATION 

Case No. 2:09-cv-12830-AJT-DAS 

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FINAL JUDGMENT AND ORDER OF DISMISSAL WITH PREJUDICE 

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This matter came before the Court for hearing pursuant to an Order of this Court, dated 

March 13, 2013, (the “Notice Order”), on the application of the Settling Parties for approval of 

the Settlement set forth in the Stipulation of Settlement dated as of February 27, 2013, together 

with the Exhibits appended thereto (the “Stipulation”). Due, proper and adequate notice having 

been given of the Settlement as required in said Order and pursuant to Constitutional, rule and 

statutory requirements, and the Court having considered all papers filed and proceedings held 

herein and otherwise being fully informed in the premises and good cause appearing therefore, 

IT IS HEREBY ORDERED, ADJUDGED AND DECREED that: 

1. The Stipulation is incorporated by reference in this Judgment, and all capitalized 

terms used herein shall have the same meanings assigned to them in the Stipulation. 

2. This Court has jurisdiction over the subject matter of the Litigation and over all 

parties to the Litigation, including all Members of the Class who did not timely file a request for 

exclusion from the Class by the May 28, 2013 deadline pursuant to the Notice Order. 

3. The Court restates and incorporates its prior Order of February 28, 2012, 

certifying this action as a class action and finds that the prerequisites for a class action under 

Rules 23(a) and (b)(3) of the Federal Rules of Civil Procedure have been satisfied in that: (a) the 

number of Class Members is so numerous that joinder of all members thereof is impracticable; 

(b) there are questions of law and fact common to the Class; (c) the claims of the Court 

appointed Class Plaintiffs are typical of the claims of the Class they represent; (d) the Plaintiffs 

have and will continue to fairly and adequately represent the interests of the Class; (e) the 

questions of law and fact common to the members of the Class predominate over any questions 

affecting only individual members of the Class; and (f) a class action is superior to other 

available methods for the fair and efficient adjudication of the controversy. 

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4. Pursuant to Rule 23 of the Federal Rules of Civil Procedure, this Court hereby 

finally certifies this action as a class action on behalf of all persons or entities who purchased or 

otherwise acquired Caraco’s securities between May 29, 2008 and June 25, 2009, inclusive, and 

who were damaged thereby. Excluded from the Class are Defendants, the officers and directors 

of the Company, at all relevant times, members of their immediate families, any entity in which 

any Defendant has or had a legal controlling interest, and the legal representatives, heirs, 

successors, or assigns of any Defendant. 

5. The distribution of the Notice and the publication of the Summary Notice, as 

provided for in the Notice Order, constituted the best notice practicable under the circumstances, 

including individual notice to all members of the Class who could be identified through 

reasonable effort. Said notices (i) provided the best notice practicable under the circumstances of 

those proceedings and of the matters set forth therein, including the proposed Settlement set forth 

in the Stipulation of Settlement, to all Persons entitled to such notices; (ii) constitute due, 

adequate and sufficient notice to all Persons entitled to receive notice and (iii) fully satisfy the 

requirements of Federal Rule of Civil Procedure 23, Section 21D(a)(7) of the Securities 

Exchange Act of 1934, the Due Process Clause(s) of the United States Constitution, the rules of 

this Court and any other applicable law. 

6. Pursuant to Rule 23 of the Federal Rules of Civil Procedure, this Court hereby 

approves the Settlement set forth in the Stipulation and finds that said Settlement is, in all 

respects, fair, reasonable and adequate to, and is in the best interests of the Plaintiffs, the Class 

and each of the Class Members. This Court further finds the Settlement set forth in the 

Stipulation is the result of lengthy arm’s-length negotiations that took over six months to 

conclude between experienced counsel representing the interests of the Plaintiffs, Class Members 

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and the Defendants that were also held before a third party mediator approved by the Court. 

Accordingly, the Settlement embodied in the Stipulation is hereby approved in all respects and 

shall be consummated in accordance with its terms and provisions. The Settling Parties are 

hereby directed to perform the terms of the Stipulation. 

7. The Litigation and all claims contained therein, including all of the Released 

Claims, are dismissed with prejudice as to the Plaintiffs and the other Members of the Class, and 

as against each and all of the Released Persons. The Settling Parties are to bear their own costs, 

except as otherwise provided in the Stipulation. 

8. Upon the Effective Date, the Plaintiffs and each of the Class Members shall 

conclusively be deemed to have, and by operation of this Judgment shall have, dismissed with 

prejudice all claims asserted against the Defendants in the Litigation and, by operation of this 

Judgment, to have: (i) fully, finally and forever released, relinquished and discharged all of the 

Released Claims (including Unknown Claims) whether or not such Class Member executes and 

delivers a Proof of Claim and Release form; (ii) covenanted not to sue any of the Released 

Persons or otherwise to assert, directly or indirectly, any of the Released Claims against any of 

the Released Persons; and (iii) agree to be forever barred and enjoined from doing so, in any 

court of law or equity, or in any other forum. 

9. Upon the Effective Date hereof, each of the Released Persons shall be deemed to 

have, and by operation of this Judgment shall have, fully, finally, and forever released, 

relinquished and discharged the Plaintiffs, each and all of the Class Members, and Class Counsel 

from all claims (including Unknown Claims), arising out of, relating to, or in connection with the 

institution, prosecution, assertion, settlement or resolution of the Litigation or the Released 

Claims. 

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10. Upon the Effective Date, in accordance with Section 21 D(f)(7)(A) of the 

Securities Exchange Act of 1934, 15 U.S.C. § 78u-4(f)(7)(A), each of the Defendants by virtue 

of this Judgment is fully and finally released and discharged from all claims for contribution that 

have been or may hereafter be brought by or on behalf of any Persons based upon, relating to, or 

arising out of the Released Claims. Accordingly (i) any and all Persons are permanently barred, 

enjoined, and restrained from commencing, prosecuting, or asserting any such claim for 

contribution against any of the Defendants based upon, relating to, or arising out of the Released 

Claims, and (ii) the Defendants are hereby permanently barred, enjoined, and restrained from 

commencing, prosecuting, or asserting any claim for contribution against any Person based upon, 

relating to, or arising out of the Released Claims. 

11. Any further orders or proceedings solely regarding the Plan of Allocation shall in 

no way disturb or affect this Judgment and shall be separate and apart from this Judgment. 

12. Neither the Stipulation nor the Settlement contained therein, nor any act 

performed or document executed pursuant to or in furtherance of the Stipulation or the 

Settlement: (a) is or may be deemed to be or may be used as an admission of, or evidence of, the 

validity of any Released Claim, or of any wrongdoing or liability of the Defendants; or (b) is or 

may be deemed to be or may be used as an admission of, or evidence of, any fault or omission of 

any of the Released Persons in any civil, criminal or administrative proceeding in any court, 

administrative agency or other tribunal. The Released Persons may file the Stipulation and/or the 

Judgment in any other litigation that may be brought against them in order to support a defense 

or counterclaim based on principles of res judicata, collateral estoppel, release, good faith 

settlement, judgment bar or reduction or any other theory of claim preclusion or issue preclusion 

or similar defense or counterclaim. 

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13. Notwithstanding any other provision in this Final Judgment and Order, the 

Defendants hereby retain and do not release any and all rights under any policies of insurance. 

14. Without affecting the finality of this Judgment in any way, this Court hereby 

retains continuing jurisdiction over: (a) implementation of this Settlement and any award or 

distribution of the Settlement Fund, including interest earned thereon; (b) disposition of the 

Settlement Fund; (c) hearing and determining applications for attorneys’ fees and expenses, 

including the reimbursement of expenses to Plaintiffs, in the Litigation; and (d) the Settling 

Parties hereto for the purpose of construing, enforcing and administering the Stipulation. 

15. No Person shall have any claim or cause of action, however denominated, 

whatsoever against the Defendants, Defendants’ Counsel or any of the Released Persons arising 

from or related to any distributions made, or not made, from the Settlement Fund, and any such 

claims or causes of action, however denominated, are fully and finally released and discharged. 

16. The Court finds that during the course of the Litigation, the Settling Parties and 

their respective counsel at all times complied with the requirements of Federal Rule of Civil 

Procedure 11 and particularly with Rule 11(b) of the Federal Rules of Civil Procedure. 

17. Without further order of the Court, the Settling Parties may agree to reasonable 

extensions of time to carry out any of the provisions of the Stipulation. 

18. In the event that the Settlement does not become effective in accordance with the 

terms of the Stipulation or the Effective Date does not occur, or in the event that the Settlement 

Fund, or any portion thereof, is returned to the Defendants, then this Judgment shall be rendered 

null and void to the extent provided by and in accordance with the Stipulation and shall be 

vacated and, in such event, all orders entered and releases delivered in connection herewith shall 

be null and void to the extent provided by and in accordance with the Stipulation of Settlement. 

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19. The Court hereby GRANTS Class Counsel attorneys’ fees of 33% of the 

Settlement Fund and expenses in an amount of $131,008.07 together with the interest earned 

thereon for the same time period and at the same rate as that earned on the Settlement Fund until 

paid. Said fees shall be allocated by Class Counsel among Plaintiffs’ counsel in a manner which, 

in Class Counsel’s good-faith judgment, reflects each counsel’s contribution to the institution, 

prosecution and resolution of the Litigation. The Court finds that the amount of fees awarded is 

fair and reasonable in light of the time and labor required, the novelty and difficulty of the case, 

the skill required to prosecute the case, the experience and ability of the attorneys, awards in 

similar cases, the contingent nature of the representation and the result obtained for the Class. 

20. The Court hereby GRANTS Lead Plaintiff Tushar Amin reimbursement of his 

reasonable costs and expenses (including lost wages) directly related to his representation of the 

Class in the amount of $4,320. 

21. The Court hereby GRANTS Plaintiff Kevin Koziatek reimbursement of his 

reasonable costs and expenses (including lost wages) directly related to his representation of the 

Class in the amount of $7,500. 

22. The Court hereby GRANTS Plaintiff Jonathan Wilkof reimbursement of his 

reasonable costs and expenses (including lost wages) directly related to his representation of the 

Class in the amount of $1,360. 

23. The awarded attorneys’ fees and expenses, and interest earned thereon, shall be 

paid to Class Counsel from the Settlement Fund immediately after the date this Order is executed 

subject to the terms, conditions, and obligations of the Stipulation and in particular ¶ 6.2 thereof, 

which terms, conditions, and obligations are incorporated herein. 

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24. The Court shall retain continuing jurisdiction until all settlement funds have been 

disbursed. 

DATED: June 26, 2013 s/Arthur J. Tarnow 

 The Honorable Arthur J. Tarnow 

 United States Senior District Judge 

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