Charles River Laboratories International, Inc.
A securities class action has been filed in the USDC – MA. on behalf of purchasers of Charles River Laboratories International, Inc. (CRL) (“Charles River” or the “Company”) between May 5, 2020 and February 21, 2023, both dates inclusive (the “Class Period”). If you wish to serve as lead plaintiff, you must move the Court no later than July 18, 2023.
On February 22, 2023, before the market opened, Charles River revealed that it had received a subpoena from the U.S. Department of Justice (“DOJ”) relating to an ongoing investigation in conjunction with the U.S. Fish and Wildlife Service (“USFWS”) into the supply chain and illegal importation of non-human primates for research. The Company noted that it was voluntarily 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 alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, 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.
If you purchased Charles River securities during the Class Period and would like to receive more information or join the action, please enter your contact information below and click “Submit Your Information”
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