LOS ANGELES -- (Business Wire)
Glancy Binkow & Goldberg LLP announces that all purchasers of the common
stock of Neptune Technologies & Bioressources Inc. (“Neptune
Technologies” or the “Company”) (NASDAQ:NEPT) between December 12, 2011
and November 8, 2012, inclusive (the “Class Period”), have until
February 18, 2013 to file a motion with the Court to be appointed as
lead plaintiff. The securities fraud class action lawsuit was filed in
the United States District Court for the Southern District of New York.
Neptune Technologies is a Canadian biotechnology company engaged in the
research, development and commercialization of products derived from
marine biomasses for the nutraceutical, pharmaceutical, cosmetic and pet
food markets. The Complaint alleges that throughout the Class Period the
defendants issued materially false and misleading statements regarding
the Company’s business, operations and financial prospects.
Specifically, defendants misrepresented and/or failed to disclose that:
(1) the Company had installed larger acetone storage tanks at the
Company’s Sherbrooke, Québec, production facility, storing dangerously
high levels of acetone that exceeded the limits established by the
Québec Ministry of Environment in 2002; (2) the Company failed to obtain
permission from the Québec government to commence expansion of the
Sherbrooke facility; (3) the Company had been pursuing market share
regardless of the downward pressure and risk to its profit margins; and
(4) as a result, Neptune Technologies’ statements concerning its
operational performance, growth and financial prospects were false and
If you purchased Neptune Technologies common stock between December 12,
2011 and November 8, 2012, you may move the Court no later than February
18, 2013 to serve as lead plaintiff; however, you must meet certain
legal requirements. To be a member of the Class you need not take action
at this time; you may retain counsel of your choice or take no action
and remain an absent Class member. To learn
more about this action, or if you have any questions concerning this
Notice or your rights or interests with respect to these matters, please
contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925
Century Park East, Suite 2100, Los Angeles, California 90067, by
telephone at 310-201-9150, Toll-Free at 888-773-9224, by e-mail to firstname.lastname@example.org,
or visit our website at http://www.glancylaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Glancy Binkow & Goldberg LLP, Los Angeles, CA
Source: Glancy Binkow & Goldberg LLP
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