Class Action Lawsuit on Behalf of Albany Molecular Research Inc. Investors Announced by Kirby McInerney LLP
15 November 2014 - 6:55AM
Business Wire
Kirby McInerney LLP announced today that a class action lawsuit
is pending in the United States District Court for the Eastern
District of New York on behalf of investors who acquired Albany
Molecular Research Inc. (“Albany” or the “Company”) (Nasdaq:AMRI)
securities during the period from August 5, 2014 to November 5,
2014 (the “class period”). Pursuant to applicable law, investors
have until January 12, 2015 to file a motion to be appointed as
lead plaintiff in the investor lawsuit.
The lawsuit charges that during the class period the Company
touted its acquisition of pharmaceutical products manufacturer
OsoBio, and raised the Company’s projected diluted earnings per
share and contract growth for 2014 in light of the acquisition.
However, the Company misled investors by omitting that the OsoBio
facility experienced a business interruption in July 2014, which
led to the loss of finished product, required remediation of one of
its suites, and meaningfully impaired the Company’s outlook for
2014.
On November 5, 2014, the Company issued a press release and
filed a Form 8-K with the SEC revealing the interruption. On this
news, the price of AMRI fell from $22.67 on November 4, 2015 to
$16.59 on November 5, 2014, a loss of value of over 35%.
If you acquired Albany securities during this period and you are
interested in learning more about this matter and any rights you
might have with respect to these claims, contact Jess Kelley at
securitiescases@kmllp.com, by telephone at (212) 371-6600, or by
filling out this form. Please bear in mind that some of these
rights may be time-sensitive.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm
concentrating in securities, whistleblower, antitrust and consumer
litigation. The firm has specialized in complex litigation,
including securities class actions, for several decades. Kirby
McInerney LLP has repeatedly demonstrated its expertise in this
field, and has been recognized by various courts that have
appointed the firm to major positions in consolidated and
multi-district litigation. The firm’s efforts on behalf of
shareholders in securities litigation have resulted in recoveries
totaling billions of dollars, and the firm’s achievements and
quality of service have been chronicled in numerous published
decisions. Additional information about the firm or the claims
against Albany can be found at Kirby McInerney LLP’s
website: http://www.kmllp.com.
Kirby McInerney LLPJess Kelley,
212-371-6600securitiescases@kmllp.com
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