Inotiv, Inc. (NasdaqCM: NOTV)
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Inotiv, Inc. (NasdaqCM: NOTV).
On November 5, 2021, the Company completed its purchase of Envigo RMS, LLC (“Envigo”) after several months of discussion and due diligence reviews. However, from July 2021 onward, Envigo’s Cumberland Facility had been charged with numerous serious violations, many repeated, of the Animal Welfare Act (“AWA”) for cruel and inhumane treatment of dogs intended for scientific research use. The violations culminated with the execution of a federal search warrant at the facility on May 18, 2022 and a lawsuit filed on May 19, 2022 by the U.S. Attorney General against Envigo for violations of the AWA. Notably, the Company failed to detect and/or otherwise remedy the serial violations by Envigo during its supposed due diligence reviews and multiple inspections during the acquisition process of Envigo, or to disclose the violations to shareholders.
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, which remains ongoing.
KSF’s investigation is focusing on whether Inotiv’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Inotiv shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org), or fill out the form on this page.