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Gong v. Neptune Wellness Solutions Inc. et. al.
Case Number:
2:21-cv-01386
Court:
Nature of Suit:
Multi Party Litigation:
Class Action
Judge:
Firms
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July 20, 2023
$4M Deal In Hemp Merger Suit Gets Judge's Endorsement
A federal magistrate judge said the New York court should approve a settlement worth $4.25 million that would conclude an investor-led lawsuit against personal health company Neptune Wellness Solutions, with $1.4 million of the award slated to end up in the proposed class counsel's pockets.
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March 17, 2023
Investors Settle With Health Co. For $4M In Hemp Merger Suit
A New York federal judge has given the green light to a $4 million deal to end a suit alleging Neptune Wellness Solutions Inc. misled investors by downplaying the financial risks of its buyout of a hemp company.
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December 07, 2022
Health Co. Inks $4M Deal To End Suit Over Hemp Co. Buyout
A proposed class of investors has brokered a deal with Neptune Wellness Solutions Inc. that would see the company pay either $4 million in cash or a mix of cash and stock that's valued slightly higher to end claims it downplayed the risks of acquiring a hemp company.
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October 21, 2022
Health Co. Agrees To Classwide Deal In Merger Suit
Personal health company Neptune Wellness Solutions Inc. has agreed to a settlement to end an investor's lead lawsuit that claims it "cooked the books" and lied about the risks associated with purchasing a hemp company, according to a letter filed in New York federal court.
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August 08, 2022
Cannabis Co. Investors Fight Effort To Dismiss Merger Suit
Neptune Wellness Solutions Inc. and a proposed class of investors suing it for securities fraud squared off in filings submitted in New York federal court Friday, with the company arguing that the suit should be tossed as it comes "nowhere close" to supporting their claims and shareholders saying their case is "straightforward."
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March 17, 2021
Cannabis Co. Downplayed Merger Issues, Investors Say
A proposed class of investors has filed suit against Neptune Wellness Solutions Inc., alleging it downplayed the risks and complications of its acquisition of a hemp company and saw stock prices fall more than 30% when the merger hit a snag and strained capital reserves.