Charles River Laboratories Intl. Inc.
The law firm of Kirby McInerney LLP is investigating potential claims against Charles River Laboratories Intl. Inc. (“Charles Rivers” or the “Company”) (NYSE: CRL). The investigation concerns whether Charles River and/or certain of its officers have violated the federal securities laws and/or engaged in other unlawful business practices.
Charles River provides test and development services for vaccines, biosimilars, and medicine to treat cardiovascular, skeletal, endocrine, central nervous system, cancer, and other sorts of ailments.
On February 22, 2023, Charles River disclosed a U.S. Department of Justice investigation into the supply chain for research primates and that the Company has voluntarily suspended shipments from Cambodia. The company has also stated that “there is currently no global source to replace the supply of nonhuman primates from Cambodia. So the current supply situation will result in study delays in the company’s safety assessment business, and have a negative impact on 2023 revenue and earnings.” On 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.