Investors with $79,000 of losses are encouraged to contact the firm before May 17, 2021; click here to submit trade information
LOS ANGELES, May 09, 2021 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Neptune Wellness Solutions, Inc. (NASDAQ: NEPT) investors that acquired shares between July 24, 2019 to February 16, 2021. Investors have until May 17, 2021 to seek an active role in this litigation.
It is alleged in this complaint that Neptune made misleading and false statements to the market. Neptune suffered from higher costs to integrate the operations and assets of its SugarLeaf acquisition than it acknowledged, which placed a considerable strain on Neptune’s capital reserves. It was reasonably foreseeable that Neptune’s need to raise additional capital through additional stock offerings was reasonably foreseeable. Neptune’s public statements were materially misleading and false throughout the class period, based on these facts. Investors suffered damages when the market learned the truth about Neptune.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 17, 2021.
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The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.