Mr. Stuart Wooldridge reports

GLG ANNOUNCES DISMISSAL OF US SHAREHOLDER LAWSUIT

The class action lawsuit filed against GLG Life Tech Corp. for alleged failures to disclose certain information has been dismissed.

Earlier today, the company secured a dismissal with prejudice of a securities class action filed against it and two of its officers (chief executive officer Dr. Luke Zhang and president and chief financial officer Brian Meadows) in the United States District Court for the Southern District of New York. In granting the company's motion to dismiss the class action, the court held that the company had previously disclosed "substantial information [to] the market that suggested precisely that which plaintiffs alleged defendants failed to disclose" under the United States securities laws. The court further found that "plaintiffs have failed to allege that defendants had a plausible motive to defraud investors," and noted the fact that Dr. Zhang "purchased a significant number of shares during the putative class period." Significantly, the court also ruled that the company "persuasively argue[d]" that it had also "disclosed all that was required" under Canadian regulations.

We seek Safe Harbor.