LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz pronounces an investigation of Neptune Wellness Solutions Inc. (“Neptune” or the “Company”) (NASDAQ: NEPT) on behalf of traders regarding the Company’s doable violations of federal securities legal guidelines.
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In June 2019, Neptune acquired SugarLeaf Labs, LLC and Forest Remedies LLC (collectively, “SugarLeaf”), a registered North Carolina-based industrial hemp firm offering extraction companies and formulated merchandise.
On February 15, 2021, Neptune introduced internet loss of CA$73.8 million for third quarter 2021 due partly to a CA$35.6 million impairment of goodwill and a CA$2.1 million impairment of “property, plant and gear and right-of-use property associated to the acquisition of SugarLeaf in July 2019,” in addition to accelerated amortization of CA$13.95 million “additionally associated to the SugarLeaf acquisition.”
On this information, Neptune’s inventory worth fell $0.86 per share, or 30.71%, to shut at $1.94 per share on February 16, 2021, thereby injuring traders.
Then, on February 17, 2021, earlier than the market opened, Neptune issued a press launch asserting the termination of an at-the-market providing performed by the Company, which might have raised $18.6 million in gross proceeds. Immediately after, Neptune issued a second press launch asserting that the Company was conducting a $55 million registered direct providing.
On this information, Neptune’s inventory worth fell $0.21 per share, or 10.82%, to shut at $1.73 per share on February 17, 2021, thereby injuring traders additional.
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If you bought Neptune securities, have info or want to study extra about these claims, or have any questions regarding this announcement or your rights or pursuits with respect to those issues, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by electronic mail to email@example.com, or go to our web site at www.frankcruzlaw.com. If you inquire by electronic mail please embody your mailing deal with, phone quantity, and quantity of shares bought.
This press launch could also be thought of Attorney Advertising in some jurisdictions underneath the relevant regulation and moral guidelines.