Press release from Business Wire
Glancy Binkow & Goldberg LLP Announces Investigation of Neptune Technologies & Bioressources Inc.
Thursday, December 20, 2012
Glancy Binkow & Goldberg LLP Announces Investigation of Neptune Technologies & Bioressources Inc.19:59 EST Thursday, December 20, 2012 LOS ANGELES (Business Wire) -- 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 inNeptune'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 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, CAMichael Goldberg(310) 201-9150 or (888) email@example.com