Investigation announced for Long-Term Investors in shares of Charles River Laboratories International, Inc. (NYSE: CRL) over potential Wrongdoing

An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Charles River Laboratories International, Inc.

Investors who purchased shares of Charles River Laboratories International, Inc. (NYSE: CRL) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Charles River Laboratories International officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.

On February 22, 2023, Charles River Laboratories International, Inc. disclosed that it received a subpoena from the Justice Department relating to an ongoing investigation into the supply chain and illegal importation of nonhuman primates for research. The Company has voluntarily suspended shipments of primates from Cambodia. The Company also warned that the decision to suspend shipments will negatively impact its earnings this year and will reduce revenue growth by 200 basis points to 400 basis points.

Shares of Charles River Laboratories International, Inc. (NYSE: CRL) declined from $262 per share on February 08, 2023, to $207.01 per share on February 22, 2023.

On May 19, 2023, a lawsuit was filed by an investor in NYSE: CRL over alleged securities laws violations by Charles River Laboratories International, Inc. The plaintiff alleges on behalf of purchasers of Charles River Laboratories International, Inc. (NYSE: CRL) common shares between May 5, 2020 and February 21, 2023, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 5, 2020 and February 21, 2023, the Defendants failed to disclose to investors that Charles River had engaged in illegal activity with respect to its importation of non-human primates for research, 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, that, as a result, Charles River would be forced to suspend shipments of primates from Cambodia, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On November 14, 2023, an amended Complaint was filed and on January 15, 2024, the defendants filed a Motion to Dismiss the amended Complaint.

On July 1, 2024, the court issued an Order granting Defendants' Motion to Dismiss and entered Judgment in favor of the Defendants.

On July 30, 2024, a notice appealing the Court's Dismissal Order and Judgment was filed.

Those who purchased shares of Charles River Laboratories International, Inc. (NYSE: CRL), have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.