BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of purchasers of the securities of Albany Molecular Research Inc. (“AMRI” or the “Company”) (NASDAQ: AMRI) concerning possible violations of federal securities laws.
Albany Molecular is a contract research and manufacturing company that provides integrated drug discovery, development and manufacturing services primarily in the United States, Europe and Asia. The investigation is related to the Company’s November 5, 2014, announcement of weak financial and operating results for third quarter 2014, including an $8.6 million loss in the quarter. The Company attributed the weak third quarter to a “confluence of a business interruption event at our OsoBio facility, together with lower Discovery and API revenue.” In addition, the Company disclosed a “weather-related power interruption at our OsoBio facility in Albuquerque took the facility offline for a period of time, contributing to the loss of finished product and the need to remediate one of the suites at the facility.” The Company now expects full-year earnings in the range of $0.67 to $0.73 per share on revenue in the range of $278 million to $286 million, well below the consensus estimate.
If you purchased AMRI securities prior to November 5, 2014, if you have information or would like to learn more about these claims, or if you 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 firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.