NEW YORK, Nov. 14, 2014 /PRNewswire/ -- Harwood Feffer
LLP (www.hfesq.com) is investigating potential claims against the
board of directors of Albany Molecular Research Inc. ("Albany
Molecular" or the "Company") (NASDAQ: AMRI), concerning whether the
board has breached its fiduciary duties to shareholders and/or
violated the federal securities laws.
On November 5, 2014, the Company
announced an $8.6 million loss for
the third fiscal quarter of 2014. The Company blamed the weak
results on a "confluence of a business interruption event at our
OsoBio facility, together with lower Discovery and API revenue." In
addition, the Company disclosed a "weather-related power
interruption at our OsoBio facility in Albuquerque took the
facility offline for a period of time, contributing to the loss of
finished product and the need to remediate one of the suites at the
facility." The Company now expects full-year earnings in the range
of $0.67 to $0.73 per share on
revenue in the range of $278 million to $286
million, well below the consensus estimate.
Our investigation concerns whether: (a) the Company board of
directors has breached its fiduciary duties to shareholders,
grossly mismanaged the Company, and/or committed abuses of control
in connection with the foregoing; and (b) the Company, or any of
its officer or directors violated the federal securities laws.
If you own Albany Molecular shares and wish to discuss this
matter with us, or have any questions concerning your rights and
interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
(212)935-7400
Email: bsachsmichaels@hfesq.com
Website: http://www.hfesq.com
Follow us on Twitter: @HarwoodFeffer
Harwood Feffer has been
representing individual and institutional investors for many years,
serving as lead counsel in numerous cases in federal and state
courts. Please visit the Harwood Feffer LLP website
(http://www.hfesq.com) for more information about the
firm.
The law firm responsible for this advertisement is Harwood
Feffer LLP (www.hfesq.com). Prior results do not guarantee or
predict a similar outcome with respect to any future matter.
Logo -
http://photos.prnewswire.com/prnh/20120215/MM54604LOGO
SOURCE Harwood Feffer LLP