SAN DIEGO, July 15, 2022 (GLOBE NEWSWIRE) —
The class: Law firm in shareholder law Robbins LLP reminds investors that a shareholder has filed a class action lawsuit on behalf of all persons and entities who purchased or otherwise acquired securities of Inotiv, Inc. (NASDAQ: NOTV) between September 21, 2021 and June 13, 2022, for violation of the Securities Exchange Act of 1934. Inotiv claims to be a contract research organization providing nonclinical and analytical drug discovery and development services and research models and related products and services.
If you want more information about the misconduct of Inotiv Inc., click here.
What this case is about: Inotiv, Inc. (NOTV) has not disclosed that it has engaged in widespread and gross violations of animal welfare law
According to the Complaint, on September 21, 2021, Inotiv announced the acquisition of Envigo RMS, LLC, which it completed on November 5, 2021. During the Class Period, the Defendants touted that its research facilities on animals “comply with applicable humane protection regulations”. treatment of animals in our care.”
On May 20, 2022, Inotiv disclosed that on May 18, 2022, the U.S. Department of Justice (“DOJ”) and other federal and state law enforcement officers executed a search and seizure warrant in its facilities in Cumberland, Virginia. Additionally, on May 19, 2022, the DOJ filed a lawsuit against Envigo for violating animal welfare law at the Cumberland facility. Then, on May 21, 2022, the court in the DOJ case issued an immediate temporary restraining order to end “serious and continuing violations of animal welfare law.” The court noted that hundreds of beagle puppies died at the Cumberland facility, citing deplorable conditions including overcrowded enclosures, lack of nutrition and lack of veterinary care. On this news, the Company’s stock price fell $5.19 per share, or 28%, to close at $13.14 per share on May 23, 2022.
Finally, on June 13, 2022, the Company announced the closure of two Envigo facilities. At this news, the Company’s stock price fell again to $12.78 per share.
Next steps: If you acquired your shares of Inotiv, Inc. between September 21, 2021 and June 13, 2022, you have until August 22, 2022, to ask the court to name you as the lead plaintiff in the class. A lead plaintiff is a representative party acting on behalf of the other class members to direct the litigation. You don’t have to be in the case to be eligible for a clawback.
All representation is done on a contingent fee basis. Shareholders do not pay any fees or expenses.
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About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP are dedicated to helping shareholders recoup losses, improving corporate governance structures and holding corporate executives responsible for their wrongdoings since 2002. To be notified if a class action lawsuit against Inotiv, Inc. settles or to receive free alerts when corporate executives commit wrongdoing, sign up for Watch Inventory today.
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