| COMPANY |
Charles River Laboratories International, Inc. |
| COURT |
United States District Court for the District of Massachusetts |
| CASE NUMBER |
23-cv-11132 |
| JUDGE |
The Hon. Denise Jefferson Casper |
| CLASS PERIOD |
May 5, 2020 and February 21, 2023 |
| SECURITY TYPE |
Securities |
Charles River investors may receive additional information about the case by clicking the link "Submit Your Information" above. If you are a member of the class described below, you may no later than July 18, 2023 move the Court to serve as lead plaintiff of the class, if you so choose.
A class action lawsuit has been filed on behalf of those who purchased or acquired Charles River Laboratories International, Inc. ("Charles River") (NYSE: CRL) securities between May 5, 2020 and February 21, 2023, both dates inclusive (the “Class Period”).
Case Background:
Charles River is a full-service, non-clinical global drug development partner with a mission to create healthier lives. The company has three reporting segments: Research Models and Services, Discovery and Safety Assessment, and Manufacturing Solutions. The Discovery and Safety Assessment segment accounts for approximately 60% of the company’s total revenue and offers, among other things, safety assessment studies required for regulatory submission of therapeutic solutions.
On February 22, 2023, Charles River revealed that the company 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. On the same day, during an earnings call with investors, James C. Foster, the company’s CEO, stated that the “investigation in current [non-human primate] supply situation will result in study delays in our Safety Assessment business.” He further stated that the investigation into the Cambodian non-human primate chain would reduce the annual revenue forecast by approximately 200 basis points to 400 basis points.
Following this news, the price of Charles River shares declined by $24.51 per share, or approximately 10.06%, from $243.60 per share to close at $219.09 on February 22, 2023.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Filling out the online form above or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.