The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Neptune Wellness Solutions Inc. (NASDAQ: NEPT) who purchased shares between July 24, 2019 and February 16, 2021. The action, which was filed in the United States District Court for the Eastern District of New York, alleges that the Company violated federal securities laws.
In particular, the Neptune Wellness lawsuit alleges that (i) 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; (ii) accordingly, it was reasonably foreseeable that the company would need to conduct additional stock offerings to raise more capital; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until May 17, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
To learn more and keep informed, complete this form >