Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international shareholder and consumer rights litigation firm, is reminding investors that the deadline to move for lead plaintiff in a securities class action lawsuit against Charles River Laboratories International, Inc. (NYSE: CRL) (“Charles River” or the “Company”) and certain other defendants (collectively, “Defendants”) is July 18, 2023.
The action, which was filed in the U.S. District Court for Massachusetts asserts claims under §§10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) on behalf of a Class consisting of all persons who purchased or otherwise acquired Charles River common stock between May 5, 2020 and February 21, 2023, inclusive (the “Class Period”), and who were damaged thereby (the “Class”).
Charles River provides research tools and support services for drug discovery and development.
On February 22, 2023, Charles River revealed that it had received a subpoena from the U.S. Department of Justice (“DOJ”) relating to an ongoing investigation into the supply chain and illegal importation of non-human primates for research. The Company noted that it was suspending 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, Charles River’s stock price fell $24.51, or 10%, to close at $219.09 per share on February 22, 2023, on unusually heavy trading volume.
The complaint filed in this class action alleges that throughout the Class Period, Defendants failed to disclose to investors: (1) that Charles River had engaged in illegal activity with respect to its importation of non-human primates for research; (2) that, as a result, Charles River was at a heightened risk of criminal and regulatory investigation by, inter alia, the U.S. Department of Justice; and (3) that, as a result, Charles River would be forced to suspend shipments of primates from Cambodia, among other things.
Lead Plaintiff Deadline
The Lead Plaintiff deadline in this action is July 18, 2023. Any member of the proposed Class may seek to serve as Lead Plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed Class.
What You Can Do
If you purchased Charles River common stock during the Class Period, and suffered damages, realized or unrealized, you are encouraged to contact Scott+Scott attorney Jonathan Zimmerman at (888) 398-9312, or email@example.com, for more information.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, Virginia, California, and Ohio.