NEW ORLEANS--(BUSINESS WIRE)--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 continues its 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. Recently, the court presiding over that case denied the Company’s motion to dismiss, allowing the case to move forward.
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 (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqcm-notv/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
