openPR Logo
Press release

Lawsuit filed for Investors in shares of Neptune Wellness Solutions Inc (NASDAQ: NEPT)

03-26-2021 03:59 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Neptune Wellness Solutions Inc (NASDAQ: NEPT) shares.

A lawsuit was filed on behalf of investors in Neptune Wellness Solutions Inc (NASDAQ: NEPT) shares.

An investor, who purchased shares of Neptune Wellness Solutions Inc (NASDAQ: NEPT), filed a lawsuit over alleged violations of Federal Securities Laws by Neptune Wellness Solutions Inc..

Investors who purchased shares of Neptune Wellness Solutions Inc (NASDAQ: NEPT) have certain options and for certain investors are short and strict deadlines running. Deadline: May 17, 2021. NASDAQ: NEPT investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Canada based Neptune Wellness Solutions Inc. operates as an integrated health and wellness company. It builds a portfolio of lifestyle brands and consumer packaged goods products under the Forest Remedies and, Ocean Remedies, Neptune Wellness, Mood Ring, and OCEANO3 brands. Neptune Wellness Solutions Inc offers turnkey product development and supply chain solutions to businesses and government customers in various health and wellness verticals, such as legal cannabis and hemp, nutraceuticals, and white label consumer packaged goods. Neptune Wellness Solutions Inc also provides extraction and purification services from cannabis and hemp biomass; raw material sourcing, formulation, quality control, and quality assurance primarily for omega-3 and hemp-derived ingredients under various delivery forms, such as soft gels, capsules, and liquids; and formulation and manufacturing solutions for value added product forms comprising tinctures, sprays, topicals, vapor products, and edibles and beverages.
On May 9, 2019, Neptune Wellness Solutions Inc announced that it had signed a definitive agreement to acquire the assets of SugarLeaf Labs, LLC and Forest Remedies LLC (collectively, "SugarLeaf"), a registered North Carolina-based commercial hemp company providing extraction services and formulated products (the "SugarLeaf Acquisition").

On July 24, 2019, Neptune Wellness Solutions Inc announced the closing of the SugarLeaf Acquisition.
On February 15, 2021, Neptune Wellness Solutions Inc announced disappointing financial results for the third quarter of the Company's fiscal year 2021, missing analyst expectations. Among other results, Neptune reported third quarter revenues of CA$3.32 million and a net loss of CA$73.8 million, down 63.81% and over 1,000% year-over-year, respectively. Neptune Wellness Solutions Inc attributed the net loss, in part, to a CA$35.6 million impairment of goodwill and a CA$2.1 million impairment of "property, plant and equipment and right-of-use assets related to the acquisition of SugarLeaf in July 2019," as well as accelerated amortization of CA$13.95 million "also related to the SugarLeaf acquisition." Additionally, Neptune Wellness Solutions Inc disclosed that its "[g]ross margin declined to a loss of 268.3%," which included a non-cash CA$7.39 million "write-down of inventory and deposits to reflect their net realizable value."
Then, on February 17, 2021, prior to the start of the day's trading session, Neptune Wellness Solutions Inc announced the termination of an at-the-market offering conducted by the Company, selling 9,570,735 of its common shares and raising approximately $18.6 million in gross proceeds. Just minutes later, Neptune Wellness Solutions Inc announced that Neptune Wellness Solutions Inc was conducting a $55 million registered direct offering.

Shares of Neptune Wellness Solutions Inc (NASDAQ: NEPT) declined from $3.60 per share on February 10, 2021, to as low as $1.26 per share on March 5, 2021.

The plaintiff claims that between July 24, 2019 and February 16, 2021, the Defendants failed to disclose to investors that 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, that accordingly, it was reasonably foreseeable that the company would need to conduct additional stock offerings to raise more capital, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of Neptune Wellness Solutions Inc (NASDAQ: NEPT) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Lawsuit filed for Investors in shares of Neptune Wellness Solutions Inc (NASDAQ: NEPT) here

News-ID: 2262198 • Views:

More Releases from Shareholders Foundation

Biohaven Ltd. (NYSE: BHVN) Investor Alert: Deadline in Lawsuit on September 12, 2025
Biohaven Ltd. (NYSE: BHVN) Investor Alert: Deadline in Lawsuit on September 12, …
A deadline is coming up on September 12, 2025in the lawsuit filed for certain investors of Biohaven Ltd. (NYSE: BHVN) over alleged securities laws violations by Biohaven Ltd. Investors who purchased shares of Biohaven Ltd. (NYSE: BHVN) have certain options and there are strict and short deadlines running. Deadline: September 12, 2025. NYSE: BHVN stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. According to the
Investigation announced for Long-Term Investors in shares of West Pharmaceutical Services, Inc. (NYSE: WST) over potential Wrongdoing
Investigation announced for Long-Term Investors in shares of West Pharmaceutical …
An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of West Pharmaceutical Services, Inc.. Investors who are current long term investors in West Pharmaceutical Services, Inc. (NYSE: WST) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. The investigation by a law firm for current long term investors in (NYSE: WST stocks follows a lawsuit filed
Investigation announced for Long-Term Investors in Open Lending Corporation (NASDAQ: LPRO) over potential Wrongdoing
Investigation announced for Long-Term Investors in Open Lending Corporation (NAS …
An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of Open Lending Corporation. Investors who are current long term investors in Open Lending Corporation (NASDAQ: LPRO) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. The investigation by a law firm for current long term investors in NASDAQ: LPRO stocks follows a lawsuit filed against Open
Investigation announced for Long-Term Investors in shares in BigBear.ai Holdings, Inc. (NYSE: BBAI)
Investigation announced for Long-Term Investors in shares in BigBear.ai Holdings …
An investigation on behalf of current long-term investors in shares of BigBear.ai Holdings, Inc. (NYSE: BBAI) concerning potential breaches of fiduciary duties by certain directors and officers of BigBear.ai Holdings, Inc. was announced. Investors who are current long term investors in BigBear.ai Holdings, Inc. (NYSE: BBAI) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. The investigation by a law firm

All 5 Releases


More Releases for Neptune

Neptune Beach Homeowners Embrace Modern Shower Doors with Bold City Glass' Custo …
Image: https://www.globalnewslines.com/uploads/2025/04/1743689114.jpg Shower curtains are out. So are clunky metal frames, squeaky sliding doors, and foggy glass that never quite looks clean. Neptune Beach residents are flipping the switch-literally and stylistically-by embracing Bold City Glass and their custom glass shower doors. Shower curtains are out. So are clunky metal frames, squeaky sliding doors, and foggy glass that never quite looks clean. Neptune Beach residents are flipping the switch-literally and stylistically-by embracing
Neptune Towing Service: Providing towing services to its customers
Neptune Towing Service is glad to announce its expanded range of towing services to its customers in and around the city. Tulsa, Oklahoma - March 21, 2023 - Neptune Towing Service, a leading company in Tulsa. It is glad to announce its expanded range of services to customers in and around the city. Introduction: With years of experience in the towing industry. Neptune Towing Service has become a trusted partner for customers needing
Marine Mining Market 2031 |Key Players - Nautilus Minerals Inc., Neptune Mineral …
Marine Mining Market Outlook 2031 The global marine mining market was valued at US$ 1.6 Bn in 2021 It is estimated to advance at a CAGR of 34.43% from 2022 to 2031 The global marine mining market is expected to reach US$ 31.5 Bn by the end of 2031 Get PDF sample for Industrial Insights and business Intelligence @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2410 Analysts' Viewpoint on Marine Mining Market Scenario Rise in demand for minerals and metals along with
Digital Banking Multichannel Solution Market Exhibits a Stunning Growth | EbankI …
The latest released on Global Digital Banking Multichannel Solution Market delivers comprehensive data ecosystem with 360° view of customer activities, segment-based analytics-and-data to drive opportunities of evolving Digital Banking Multichannel Solution marketplace and future outlook to 2026. It includes integrated insights of surveys conducted with executives and experts from leading institutions across various countries. Some of the listed companies profiled in the report are Q2, Novabase, Liferay, Digital Insight (An
Chemical Pump 2018 Global Market Key Players – Milton Roy, Williams, Wastecorp …
Chemical Pump Market 2018 Wiseguyreports.Com Adds “Chemical Pump – Global Market Growth, Opportunities, Analysis of Top Key Players and Forecast to 2023” To Its Research Database. Description: The Chemical Pump market revenue was xx.xx Million USD in 2013, grew to xx.xx Million USD in 2017, and will reach xx.xx Million USD in 2023, with a CAGR of x.x% during 2018-2023. Based on the Chemical Pump industrial chain, this report mainly elaborate the
Qualitative Analysis: Global Water Bottle Filling Machine Market - Blenzor, Nept …
Qyresearchreports include new market research report Global Water Bottle Filling Machine Market Insights, Forecast to 2025 to its huge collection of research reports. This report presents the worldwide Water Bottle Filling Machine market size (value, production and consumption), splits the breakdown (data status 2013-2018 and forecast to 2025), by manufacturers, region, type and application. This study also analyzes the market status, market share, growth rate, future trends, market drivers, opportunities and challenges,