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Bronstein, Gewirtz & Grossman, LLC Announces That A Class Action Has Been Filed Against Neptune Technologies & Bioresources

  Bronstein, Gewirtz & Grossman, LLC Announces That A Class Action Has Been
            Filed Against Neptune Technologies & Bioresources Inc.

PR Newswire

NEW YORK, Jan. 7, 2013

NEW YORK, Jan. 7, 2013 /PRNewswire/ -- Attorney Advertising -- Bronstein,
Gewirtz & Grossman, LLC, announces that a class action has been filed on
behalf of purchasers of the securities of Neptune Technologies & Bioresources
Inc. ("Neptune" or the "Company") (Nasdaq CM: NEPT -News), who purchased
shared during the period between December 12, 2011 and November 8, 2012,
inclusive, (the "Class Period"), concerning whether the company and certain of
its officers and directors have violated federal securities laws.

The complaint alleges that, throughout the Class Period, defendants lauded the
future benefits of the massive expansion underway at the Company's Sherbrooke
production plant – the Company's sole production facility which housed all of
its inventory. Specifically, the complaint alleges that, during the Class
Period, defendants issued materially false and misleading statements regarding
the Company's operational status and financial projections, and failed to
disclose the following adverse facts: (a) the Company had installed larger
acetone storage tanks at the Sherbrooke production plant that facilitated
their storing dangerously high levels of acetone that exceeded those permitted
by the certificate of authorization issued by the Quebec Ministry of
Environment in 2002; (b) the Company had failed to obtain permission from the
Quebec government to commence expansion of the Sherbrooke production facility;
(c) the Company had been chasing market share at the cost of margins and would
see its profit margins collapse by the end of the Class Period; and (d) as a
result, the Company was not on track to "maintain [its] operational
performances, execute [its] growth strategy, [or to] continue delivering
positive results." The trading of Neptune stock was halted following this
explosion and upon its resumption on November 27, 2012, it proceeded to close
down almost 32% from its closing price prior on the day prior to the
explosion.

No Class has yet been certified in the above action. If you wish to review a
copy of the Complaint, to discuss this action, or have any questions, please
contact either Peretz Bronstein or Eitan Kimelman of Bronstein, Gewirtz &
Grossman, LLC at 212-697-6484 or via email eitan@bgandg.com. Those who inquire
by e-mail are encouraged to include their mailing address and telephone
number.February 18, 2013, is the deadline for investors to seek a lead
plaintiff appointment.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.Our
primary expertise is the aggressive pursuit of litigation claims on behalf of
our clients.In addition to representing institutions and other investor
plaintiffs in class action security litigation, the firm's expertise includes
general corporate and commercial litigation, as well as securities
arbitration.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman, 212-697-6484
eitan@bgandg.com

SOURCE Bronstein, Gewirtz & Grossman, LLC
 
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