Robbins Umeda LLP Announces the Filing of a Securities Fraud Class Action Lawsuit Against Neptune Technologies & Bioressources

  Robbins Umeda LLP Announces the Filing of a Securities Fraud Class Action
          Lawsuit Against Neptune Technologies & Bioressources Inc.

PR Newswire

SAN DIEGO and SAN JOSE, Calif., Dec. 21, 2012

SAN DIEGO and SAN JOSE, Calif., Dec. 21, 2012 /PRNewswire/ -- Shareholder
rights firm Robbins Umeda LLP announces that purchasers of Neptune
Technologies & Bioressources Inc. (NASDAQ: NEPT) ("Neptune" or the "Company")
have filed a complaint in the U.S. District Court for the Southern District of
New York. The complaint alleges the Company and certain of its officers and
directors violated the Securities Exchange Act of 1934 between December 12,
2011 and November 8, 2012 (the "Class Period"). Neptune is a biotechnology
company that develops and commercializes krill oil products for the
nutraceutical, pharmaceutical, cosmetic, and pet food markets.


The complaint alleges that the Company issued a series of materially false and
misleading statements to investors misrepresenting its business success and
future prospects. Specifically, the complaint alleges that defendants made
false and misleading statements regarding Neptune's highly publicized
expansion of its Sherbrooke production facility because it failed to disclose
that it had not acquired the required building permits. The planned expansion
would have allowed Neptune to increase its production capacity of krill oil
from 150,000 kg per year to 500,000 kg per year, increasing profit margins,
revenues, and earnings. Further, according to the complaint, Neptune failed
to disclose that it had installed larger than permitted storage tanks in its
Sherbrooke facility, allowing the Company to store dangerously high levels of
acetone. As a result of these misrepresentations and omissions, Neptune's
stock traded at artificially high prices during the Class Period reaching a
high of $5.14 per share on July 2, 2012.

Then, on November 8, 2012, an explosion and fire at the Sherbrooke plant
destroyed Neptune's only production and storage facility, and damaged its
expansion facility, then under construction. On this news, NASDAQ Capital
Market halted trading of Neptune's stock until November 26, 2012. When
trading resumed on November 27, 2012, Neptune's share price fell $1.18 per
share, or approximately 32%, from its November 7, 2012 closing price.

If you purchased or otherwise acquired Neptune stock during the Class Period
and wish to serve as lead plaintiff, you must act no later than February 19,
2013. To discuss your shareholder rights, please contact attorney Darnell R.
Donahue at (800) 350-6003,, or via the shareholder
information form on the firm's website.

Robbins Umeda LLP is a nationally recognized leader in securities litigation
and shareholder rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action lawsuits, and
has helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. For more information, please
go to 

Press release link:

Attorney Advertising. Past results do not guarantee a similar outcome.

Robbins Umeda LLP
Darnell R. Donahue
(619) 525-3990 or Toll Free (800) 350-6003

SOURCE Robbins Umeda LLP

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