Based in Quebec, Canada, Neptune manufactures and commercializes omega-3
polysaturated fatty acids by extracting oil from Antarctic krill for the
nutraceutical, pharmaceutical, cosmetic, and pet food markets.
Zeldes & Haeggquist's investigation concerns whether certain of the
Company's officers and directors caused Neptune to materially misstate
the status of its operations and financial expectations between December
12, 2011, when Neptune announced that it had commenced a massive
expansion of its sole production plant in Quebec, Canada, and November
8, 2012, when that production plant exploded, killed three, injured 18
others, decimating the plant and destroying the Company's inventory.
Thereafter, while trading in Neptune's stock remained suspended through
November 26, 2012, several media sources reported that the Quebec
Ministry of Environment had cited the Company for installing equipment
that facilitated their storage of dangerously high levels of highly
flammable acetone at the production plant, and for failing to obtain the
necessary permits to undertake the massive expansion. Based on these
disclosures and other financial repercussions from the plant explosion,
Neptune's stock plummeted when trading was resumed on November 26, 2012.
Zeldes & Haeggquist is a full-service law firm which brings major class
actions nationwide on behalf of defrauded investors and consumers and
handles a variety of complex business litigation matters. Please visit www.zhlaw.com
for more information.
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