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 misleading.
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.
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