Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Charles River Laboratories International, Inc. (CRL)
News provided byGlancy Prongay & Murray LLP
May 26, 2023, 10:30 AM ET
LOS ANGELES, May 26, 2023 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming July 18, 2023 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Charles River Laboratories International, Inc. (“Charles River” or the “Company”) (NYSE: CRL) securities between May 5, 2020 and February 21, 2023, inclusive (the “Class Period”).
If you suffered a loss on your Charles River investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/Charles-River-Laboratories-International-Inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at firstname.lastname@example.org to learn more about your rights.
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 filed in this class action 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: (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; (3) that, as a result, Charles River would be forced to suspend shipments of primates from Cambodia; and (4) 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 or otherwise acquired Charles River securities during the Class Period, you may move the Court no later than July 18, 2023 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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