Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities that purchased the common stock of Neptune Technologies & Bioresources Inc. (“Neptune” or the “Company”) (NASDAQ CM: NEPT) between December 12, 2011 and November 8, 2012 (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased shares of Neptune during the Class Period, or purchased shares prior to the Class Period and still hold Neptune, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, NY at (888) 969-4242, by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/neptune-technologies-bioresources-inc-nept.
Neptune is a Quebec, Canada-based biotechnology company that develops and commercializes krill oil products extracted from Antarctica krill for the nutraceutical, pharmaceutical, cosmetic, and pet food markets. The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. Specifically, the Complaint alleges that the Defendants misled investors about the Company’s future prospects by, among other things, failing to disclose that it had adopted an aggressive policy of volume discount to secure market share; and failing to disclose that the Company had not obtained necessary permits for the massive expansion project undertaken at the Company’s production plant in Sherbrooke – the Company’s sole production facility which housed all of its inventory. As a result of defendants’ false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.
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