Chitwood Harley Harnes LLP Gives Notice Of Its Filing Of A Class Action Complaint Against Able Labatories And Encourages Investors To Explore Legal Options.

ATLANTA -- Chitwood Harley Harnes LLP announces that it has filed a securities fraud class action complaint in the United States District Court for the District of New Jersey against Able Labatories, Inc. ("Able" or the "Company") (NASDAQNM: ABRX), Dhananjay G. Wadekar and Robert Weinstein on behalf of persons who purchased or acquired securities of Able Labatories between October 30, 2002 and May 18, 2005 inclusive (the "Class Period"). A copy of the complaint is available from the court and will be posted on our website, www.chitwoodlaw.com until expiration of the lead plaintiff deadline, July 22, 2005.

If you have questions about this case or your rights as a class member or wish to submit your transaction information to our firm, you may contact us through our website, www.chitwoodlaw.com by clicking on Able, or by emailing or calling Lauren S. Antonino, Esq. at [e-mail] or 1-888-873-3999 ext. 6888. Any member of the class who desires to be appointed lead plaintiff in the class action must file a motion with the Court no later than July 22, 2005 on their own or through counsel of their own choice. Class members must meet certain legal requirements to serve as a lead plaintiff. You may also choose to do nothing and remain an absent class member.

The Complaint alleges that starting on October 30, 2002 and continuing until May 18, 2005, defendants made a series of materially false and misleading statements regarding Able's business and earnings. The Complaint alleges that throughout the Class Period, Able failed to disclose and misrepresented the following material adverse facts which were known to defendants or recklessly disregarded by them: (1) the Company's product testing procedures failed to meet standard industry practices and good manufacturing practices established by the FDA; (2) the Company was faced with potentially enormous liabilities and fines as a result of its breaches of good manufacturing practices; (3) the Company's breaches jeopardized not only its current drug offerings but also the likelihood that drugs in development would gain FDA approval; and (4) as a result of the foregoing, defendants' opinions and statements concerning Able's current and future earnings lacked a reasonable basis at all times.

On May 19, 2005, Able announced that it had identified departures from standard operating procedures and good manufacturing practices with respect to certain laboratory testing practices and that as a result of these observations, the Company would be recalling additional products in the future. Able also announced on May 19 the resignation of Wadekar from his positions as Chairman and Chief Executive Officer. This news shocked the market. Shares of Able fell $18.37 per share, or $74.59 per share, on May 19, 2005, to close at $6.25 per share. During the Class Period, insiders sold over 480,000 shares for proceeds exceeding $9,000,000.

Chitwood Harley Harnes LLP is a class action firm that concentrates its nationwide practice in representing victims of securities fraud and corporate mismanagement, as well as other complex litigation. Chitwood Harley Harnes has been appointed lead counsel in major actions throughout the United States and has been instrumental in recovering billions of dollars on behalf of its clients. Clients and courts alike have praised the results achieved by Chitwood Harley Harnes. Recently, the federal judge in In re BankAmerica Securities Litigation, which resulted in one of the highest recoveries ever in a private securities class action, commented favorably on counsel's performance stating: "Class members were well served by experienced attorneys who, through considerable time and effort, obtained a significant recovery for their clients," and, "(a)s the Court has remarked throughout this litigation, class counsel ... have performed at exceptionally high levels, and all parties have been exceedingly well represented."