{"id":464456,"date":"2021-03-24T13:03:18","date_gmt":"2021-03-24T17:03:18","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=464456"},"modified":"2021-03-24T13:03:18","modified_gmt":"2021-03-24T17:03:18","slug":"deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-neptune-wellness-solutions-inc-nept","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/deadline-reminder-law-offices-of-howard-g-smith-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-neptune-wellness-solutions-inc-nept\/","title":{"rendered":"Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Neptune Wellness Solutions Inc. (NEPT)"},"content":{"rendered":"

<\/p>\n

Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Neptune Wellness Solutions Inc. (NEPT)<\/b><\/p>\n

BENSALEM, Pa.–(BUSINESS WIRE<\/a>)–
\nLaw Offices of Howard G. Smith reminds investors of the upcoming May 17, 2021 <\/b>deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Neptune Wellness Solutions Inc. (\u201cNeptune\u201d or the \u201cCompany\u201d) (NASDAQ: NEPT<\/a>) securities between July 24, 2019 and February 16, 2021<\/b>, inclusive (the \u201cClass Period\u201d).\n<\/p>\n

\nInvestors suffering losses on their Neptune investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com<\/a>.\n<\/p>\n

\nIn June 2019, Neptune acquired SugarLeaf Labs, LLC and Forest Remedies LLC (collectively, “SugarLeaf”), a registered North Carolina-based commercial hemp company providing extraction services and formulated products.\n<\/p>\n

\nOn February 15, 2021, Neptune announced net loss of CA$73.8 million for third quarter 2021 due in part to a CA$35.6 million impairment of goodwill and a CA$2.1 million impairment of \u201cproperty, plant and equipment and right-of-use assets related to the acquisition of SugarLeaf in July 2019,\u201d as well as accelerated amortization of CA$13.95 million \u201calso related to the SugarLeaf acquisition.\u201d\n<\/p>\n

\nOn this news, Neptune\u2019s stock price fell $0.86 per share, or 30.71%, to close at $1.94 per share on February 16, 2021, thereby injuring investors.\n<\/p>\n

\nThen, on February 17, 2021, before the market opened, Neptune issued a press release announcing the termination of an at-the-market offering conducted by the Company, which would have raised $18.6 million in gross proceeds. Immediately after, Neptune issued a second press release announcing that the Company was conducting a $55 million registered direct offering.\n<\/p>\n

\nOn this news, Neptune\u2019s stock price fell $0.21 per share, or 10.82%, to close at $1.73 per share on February 17, 2021, thereby injuring investors further.\n<\/p>\n

\nThe complaint filed alleges that throughout the Class Period, Defendants made materially false and\/or misleading statements, as well as failed to disclose material adverse facts about the Company\u2019s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the cost of Neptune’s integration of the assets and operations acquired in the SugarLeaf Acquisition would be larger than the Company had acknowledged, placing significant strain on the Company’s capital reserves; (2) accordingly, it was reasonably foreseeable that the company would need to conduct additional stock offerings to raise more capital; and (3) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and\/or lacked a reasonable basis at all relevant times.\n<\/p>\n

\nIf you purchased or otherwise acquired Neptune securities during the Class Period, you may move the Court no later than May 17, 2021 <\/b>to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, 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 howardsmith@howardsmithlaw.com<\/a>, or visit our website at www.howardsmithlaw.com<\/a>.\n<\/p>\n

\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210324005262\/en\/<\/a><\/span><\/p>\n

\nLaw Offices of Howard G. Smith
\n
Howard G. Smith, Esquire
\n
215-638-4847
\n
888-638-4847
\n
howardsmith@howardsmithlaw.com
\n<\/a>
www.howardsmithlaw.com<\/a><\/p>\n

KEYWORDS:<\/b> United States North America California Pennsylvania<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n","protected":false},"excerpt":{"rendered":"

Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Neptune Wellness Solutions Inc. (NEPT) BENSALEM, Pa.–(BUSINESS WIRE)– Law Offices of Howard G. Smith reminds investors of the upcoming May 17, 2021 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Neptune Wellness Solutions Inc. (\u201cNeptune\u201d or the \u201cCompany\u201d) (NASDAQ: NEPT) securities between July 24, 2019 and February 16, 2021, inclusive (the \u201cClass Period\u201d). Investors suffering losses on their Neptune investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com. In June 2019, Neptune acquired … <\/p>\n

Continue reading “Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Neptune Wellness Solutions Inc. (NEPT)”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-464456","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nDeadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Neptune Wellness Solutions Inc. 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Smith reminds investors of the upcoming May 17, 2021 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Neptune Wellness Solutions Inc. (\u201cNeptune\u201d or the \u201cCompany\u201d) (NASDAQ: NEPT) securities between July 24, 2019 and February 16, 2021, inclusive (the \u201cClass Period\u201d). Investors suffering losses on their Neptune investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com. In June 2019, Neptune acquired … Continue reading "Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Neptune Wellness Solutions Inc. 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Smith reminds investors of the upcoming May 17, 2021 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Neptune Wellness Solutions Inc. (\u201cNeptune\u201d or the \u201cCompany\u201d) (NASDAQ: NEPT) securities between July 24, 2019 and February 16, 2021, inclusive (the \u201cClass Period\u201d). Investors suffering losses on their Neptune investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com. In June 2019, Neptune acquired … Continue reading \"Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Neptune Wellness Solutions Inc. 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