WAYNE, Pa., Nov. 14, 2014 /PRNewswire/ -- Ryan &
Maniskas, LLP announces that a class action lawsuit has been filed
in United States District Court for the Eastern District of
New York on behalf of investors
who purchased or otherwise acquired the securities of Albany
Molecular Research, Inc. ("Albany Molecular" or the "Company")
(NASDAQ: AMRI) during the period from August 5, 2014 through November 5, 2014, inclusive (the "Class
Period").
Albany Molecular shareholders may, no later than January 12, 2015, move the Court for appointment
as a lead plaintiff of the Class. If you purchased shares of
Albany Molecular and would like to learn more about these claims or
if you wish to discuss these matters and have any questions
concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877)
316-3218 or to sign up online, visit:
www.rmclasslaw.com/cases/amri.
Albany Molecular is a contract research and manufacturing
company that provides integrated drug discovery, development and
manufacturing services primarily in the
United States, Europe and
Asia. The complaint alleges that
throughout the Class Period defendants misrepresented and/or failed
to disclose material adverse facts about the Company's operations,
financial performance and prospects, including the Company's
financial guidance and operations at its OsoBio facility.
On November 5, 2014, the Company
announced weak financial and operating results for third quarter
2014, including an $8.6 million loss
in the quarter. The Company attributed the weak third quarter to 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." Following this news, Albany Molecular stock declined
nearly 27%, or $6.08 per share, to
close at $16.59 per share on
November 5, 2014.
If you are a member of the class, you may, no later than
January 12, 2015, request that the
Court appoint you as lead plaintiff of the class. A lead
plaintiff is a representative party that acts on behalf of other
class members in directing the litigation. In order to be
appointed lead plaintiff, the Court must determine that the class
member's claim is typical of the claims of other class members, and
that the class member will adequately represent the class.
Under certain circumstances, one or more class members may
together serve as "lead plaintiff." Your ability to share in
any recovery is not, however, affected by the decision whether or
not to serve as a lead plaintiff. You may retain Ryan &
Maniskas, LLP or other counsel of your choice, to serve as your
counsel in this action.
Ryan & Maniskas, LLP is a national shareholder litigation
firm. Ryan & Maniskas, LLP is devoted to protecting the
interests of individual and institutional investors in shareholder
actions in state and federal courts nationwide.
CONTACT:
Ryan & Maniskas, LLP
Richard
A. Maniskas, Esquire
995 Old Eagle School Rd.,
Suite 311
Wayne, PA
19087
877-316-3218
rmaniskas@rmclasslaw.com
www.rmclasslaw.com/cases/amri
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SOURCE Ryan & Maniskas, LLP