Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the District of Massachusetts on behalf of shareholders of Charles River Laboratories International, Inc. who purchased shares between May 5, 2020 and February 21, 2023.
Charles River and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 22, 2023, pre-market, the Company disclosed that it had received a subpoena from the U.S. Department of Justice relating to an ongoing investigation in conjunction with the U.S. Fish and Wildlife Service into the supply chain and illegal importation of non-human primates for research, and that the Company voluntarily suspended shipments of primates from Cambodia, which would negatively impact its earnings for the year and would reduce revenue growth by 200 basis points to 400 basis points.
On this news, shares of Charles River fell $24.51, or 10%, to close at $219.09 per share on February 22, 2023, on unusually heavy trading volume.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until July 18, 2023 to request that the court appoint them lead plaintiff.