A judge has dismissed a shareholder lawsuit filed in 2011 against stevia firm GLG Life Tech Corporation for alleged failures to disclose the decline of its relationship with Cargill, then its largest customer.
Stevia supplier GLG Life Tech has reported losses in the 2011 fiscal year and the first half of 2012, following a filing delay that led it to stop trading on the Toronto Stock Exchange.
Stevia supplier GLG Life Tech has denied that it failed to disclose certain information required under federal securities laws, after a New York-based national law firm announced it was investigating the company’s statements to shareholders.
Stevia supplier GLG Life Tech has slashed its revenue expectations for 2011 and has seen its share price slip to a year low, as it reported its second quarter results.
GLG Life Tech has reported a net loss of C$3.2m in Q4 on higher costs, but revenues soared 46 percent – and the company said its plans in China are likely to boost future growth.
Stevia supplier GLG Life Tech has said its business is likely to increase by 50 to 60 percent in 2011 compared to a year earlier, mainly due to increased demand in China.
GLG Life Tech’s joint venture in China has been given the go-ahead by Chinese authorities to provide its stevia-derived sweeteners for use in foods and beverages, the company has said.
China’s reputation as an ingredient supplier has suffered from a spate of food safety problems – but the food industry should not paint all China-based companies with the same broad brush, says stevia supplier GLG Life Tech.
Stevia supplier GLG Life Tech has become the latest company to receive a letter of no objection from the Food and Drug Administration (FDA) saying that its stevia sweetener is generally recognized as safe (GRAS).
Representatives of stevia suppliers PureCircle, GLG Life Tech and Blue California spoke with FoodNavigator-USA.com at IFT about areas in which members of the stevia industry can work together - even as competing companies.
Stevia supplier GLG Life Tech has signed a five-year deal with Sugar Australia for distribution and marketing of its stevia-derived sweeteners for the Australian and New Zealand food and beverage markets.
Stevia supplier GLG Life Tech has announced an agreement with a Mexican sugar producer for the distribution of the plant-derived sweetener in that country, following on from recent similar deals for the company in Australasia and South America.
Stevia supplier GLG Life Tech has narrowed its first quarter loss from $1.5m to $1.3m as it continued to capitalize on growing demand for the zero-calorie sweetener, the company said.
Stevia supplier GLG Life Tech has announced that it is looking to develop agricultural and extraction facilities for stevia in India, as well as market its stevia extracts in the nation.
Stevia supplier GLG Life Tech has announced collaborative agreements in two key markets for the plant-derived sweetener: Australasia and South America.
GLG Life Tech has reported a 323 percent increase in revenue during 2009 as food and drink manufacturers continue to develop and launch new products containing its stevia-derived sweeteners.
GLG Life Tech and Weider Global Nutrition have agreed to drop lawsuits against each other and continue selling their stevia-derived sweeteners separately, dissolving their Sweet Naturals partnership.
Stevia supplier GLG Life Tech has filed a statement of defense against allegations from Weider Global Nutrition that it had breached conditions of their joint stevia business by setting up its own sales team.
