Bala Cynwyd, Pennsylvania--(Newsfile Corp. - April 2, 2024) - Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Charles River Laboratories International, Inc. ("Charles River" or the "Company") (NYSE: CRL) for possible breaches of fiduciary duty and other violations of federal and state law.
A securities fraud complaint was filed against Charles River on behalf of investors who purchased shares of Charles River between May 7, 2020 and March 15, 2023. According to the complaint, on February 22, 2023, before the market opened, Charles River revealed 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. 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.
The investigation seeks to determine whether members of the Charles River board of directors violated the securities laws and/or breached their fiduciary duties in connection with the allegations leveled in the complaint. If you have owned shares of Charles River stock since at least May 7, 2020, and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman by email at clients@brodsky-smith.com, visit https://www.brodskysmith.com/cases/charles-river-laboratories-international-inc-nyse-crl/, or call toll free 855-576-4847.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/203854
