Glancy Binkow & Goldberg LLP Announces Investigation of Neptune Technologies & Bioressources Inc.
Glancy Binkow & Goldberg LLP announces that it is investigating
potential claims on behalf of purchasers of the securities of Neptune
Technologies & Bioressources Inc. (“Neptune Technologies” or the
“Company”) (NYSE:NEPT) concerning possible violations of federal
securities laws. The investigation focuses on allegations that certain
statements issued by Neptune between December 12, 2011 and November 8,
2012 were false and misleading concerning the Company’s business,
operations and prospects.
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. Specifically, the investigation is focused on the
Company’s Sherbrooke, Québec, production facility and allegations that
Neptune Technologies misrepresented or failed to disclose that: (1) the
Company had installed larger acetone storage tanks at the Sherbrooke
plant, 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 misleading.
If you purchased Neptune Technologies common stock between December 12,
2011 and November 8, 2012 or in Neptune’s September 25, 2012
registered public stock offering, if you have information or would like
to learn
more about these claims, or if you wish to discuss these matters or
have any questions concerning this announcement 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 shareholders@glancylaw.com,
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.
