{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-23-047321","form_type":"8-K","ticker":null,"cik":"0001401395","company_name":"Neptune Wellness Solutions Inc.","filed_at":"2023-09-08T23:59:59+00:00","discovered_at":"2026-05-14T18:03:33.793530+00:00","generated_at":"2026-06-10T22:04:15.562522+00:00","sec_items":["3.03","5.03","4.02","8.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Neptune Wellness restates Q1 FY2024 financials, completes 1:40 reverse split, settles class action for $2.75M","bullets":["Non-reliance on Q1 FY2024 financials due to accounting policy error; restatement increases cost of sales by $1.47M, decreases SG&A by same, no net loss impact.","Completed 1:40 reverse stock split; shares reduced from ~24.1M to ~0.6M; trading on Nasdaq begins Sept 8.","Final court approval of Gong v. Neptune shareholder class action settlement; Company to issue $2.75M in common shares within 31 days.","Restatement corrects cost classification for June 30, 2023 and 2022 periods; no effect on cash flows or financial position."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-23-047321","json":"https://secwatch.observer/filing/0000950170-23-047321.json","markdown":"https://secwatch.observer/filing/0000950170-23-047321.md","text":"https://secwatch.observer/filing/0000950170-23-047321.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1401395/000095017023047321/0000950170-23-047321-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1401395/000095017023047321/nept-20230905.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-10T22:04:15.562522+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"658b50a354d75f425ab7ded0bb6276ba85d854b8","claim":"Neptune Wellness Solutions Inc. reported that prior financial statements should not be relied upon.","evidence_excerpt":"The effect of the restatement is to increase cost of sales by $1,468,648 with an offsetting decrease in selling, general and administrative expense for the three month period ended June 30, 2023, and a decrease in cost of sales by $1,585,120 with an offsetting increase in selling, general and administrative expense for the three month period ended June 30, 2022.","evidence_source":"SEC 8-K Item 4.01/4.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1401395/000095017023047321/0000950170-23-047321-index.htm","confidence":0.9,"family_label":"Auditor Changes","details":[{"label":"Action","value":"non reliance"}],"fact_type":"auditor_change"},{"claim_id":"fcbd0aeb9f00965694e9233338ad99c06b340727","claim":"Neptune Wellness Solutions Inc.: Filed Articles of Amendment to effect a 1-for-40 share consolidation of common shares (effective 2023-09-06).","evidence_excerpt":"On September 6, 2023, the Company filed Articles of Amendment to the Articles of Incorporation of the Company to effect a 1-for-40 share consolidation (the \"share consolidation\") of the common shares of the Company (the \"Common Shares\").","evidence_source":"SEC 8-K Item 5.03/5.05/5.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1401395/000095017023047321/0000950170-23-047321-index.htm","confidence":0.9,"family_label":"Governance Changes","details":[{"label":"Change","value":"charter amendment"},{"label":"Effective","value":"2023-09-06"}],"fact_type":"governance_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}