BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that it is investigating potential claims against Neptune Technologies & Bioressources Inc. (“Neptune” or the “Company”) (NASDAQ:NEPT) concerning possible violations of federal securities laws.
Neptune is a 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 investigation is related to allegations that Neptune misrepresented or failed to disclose that: (1) the Company had installed larger acetone storage tanks at its Sherbrooke, Québec, production plant, allowing it to store amounts that exceeded those permitted by the certificate of authorization issued by the Québec Ministry of Environment in 2002; (2) the Company failed to obtain permission from the Québec government to commence expansion at the Sherbrooke plant; (3) the Company had been chasing market share at the cost of its profit margins; and (4) as a result, the Company’s statements concerning its operations, growth strategy and financial performance and prospects were false and misleading.
If you purchased Neptune common stock between December 12, 2011 and November 8, 2012, 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.