Kahn Swick & Foti, LLC Launches Investigation into Charles River Laboratories Executives

Investigation Launched on Charles River Laboratories Officers

Kahn Swick & Foti, LLC (KSF), a law firm led by former Louisiana Attorney General Charles C. Foti, Jr., has announced a significant investigation concerning the officers and directors of Charles River Laboratories International, Inc. (NYSE: CRL). This investigation arises amid alarming disclosures regarding the company’s involvement in the illegal importation of non-human primates, a situation that has brought the firm under the scrutiny of the U.S. Department of Justice.

According to recent reports, Charles River Laboratories voluntarily halted shipments of primates from Cambodia after receiving a subpoena from the Justice Department in February 2023. This decision is expected to have negative repercussions on the company's financial performance, forecasting a decrease in revenue growth by 200 to 400 basis points. The inquiry originates from concerns that the company's supply chain may be tainted by illegal activities linked to wildlife trade, posing ethical and legal challenges for the firm.

The situation escalated further when a class-action lawsuit was filed against Charles River and some of its executives. This legal action alleges that key company figures failed to disclose crucial information to shareholders, potentially violating federal securities laws. The class-action lawsuit maintains that the lack of transparency may have caused significant financial harm to investors.

With these troubling developments, KSF’s investigation seeks to determine whether the officers and directors of Charles River Laboratories have breached their fiduciary responsibilities to the shareholders. The law firm will assess if there have been violations of state or federal laws in connection with the management of the company and its response to the ongoing legal issues.

KSF invites anyone possessing information relevant to the investigation to come forward. Long-term shareholders who have faced losses due to this situation are encouraged to reach out to KSF to discuss their legal rights. Individuals can contact the firm toll-free or visit their website for more details.

About Kahn Swick & Foti, LLC

Kahn Swick & Foti, LLC has established itself as one of the leading boutique securities litigation law firms in the United States, known for advocating on behalf of investors. Under the leadership of Charles C. Foti, Jr., the firm has garnered recognition, having been ranked among the top 10 firms based on settlement value, as reported by SCAS. The firm represents a diverse client base, including public and private institutional investors along with retail investors, primarily focusing on recovering investment losses resulting from corporate misconduct.

With locations spanning across New York, Delaware, California, Louisiana, Chicago, and a representative office in Luxembourg, KSF is well-positioned to address these pressing legal matters. As the investigation proceeds, the outcomes will be closely monitored by investors and industry observers alike. For additional information about the ongoing investigation and KSF's legal services, visit their website or connect through various social media platforms mentioned by the firm.