The Inotiv class action lawsuit seeks to represent purchasers or acquirers of Inotiv, Inc. (NASDAQ: NOTV) securities between September 21, 2021 and June 13, 2022, inclusive (the “Class Period”). The Inotiv class action lawsuit – captioned Grobler v. Inotiv, Inc., No. 22-cv-00045 (N.D. Ind.) – charges Inotiv and certain of its top executive officers with violations of the Securities Exchange Act of 1934.
If you suffered losses in Inotiv stock and wish to serve as lead plaintiff of the Inotiv class action lawsuit, please provide your information below. You can also contact Inotiv Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected]. Lead plaintiff motions for the Inotiv class action lawsuit must be filed with the court no later than August 22, 2022. If you have questions, please contact Inotiv Stock Loss Lawyer Timothy L. Miles today.
Allegations in the Inovtiv Class Action Lawsuit
Inotiv purports to be a contract research organization which provides nonclinical and analytical drug discovery and development services and research models and related products and services. On November 5, 2021, Inotiv completed its acquisition of Envigo RMS, LLC (“Envigo”) which is now a direct, wholly owned subsidiary of Inotiv.
The Inotiv class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) Envigo and Inotiv’s Cumberland, Virginia facility engaged in widespread and flagrant violations of the Animal Welfare Act of 1966 (“AWA”); (ii) Envigo and Inotiv’s Cumberland facility continuously violated the AWA; (iii) Envigo and Inotiv did not properly remedy issues with regards to animal welfare at the Cumberland facility; (iv) as a result, Inotiv was likely to face increased scrutiny and governmental action; (v) Inotiv would imminently shut down two facilities, including the Cumberland facility; (vi) Inotiv did not engage in proper due diligence; and (vii) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On May 20, 2022, Inotiv announced the search and seizure at its Cumberland facility and the filing of a United States Department of Justice complaint “alleging violations of the Animal Welfare Act at the Cumberland, Virginia facility.” The following day, on May 21, 2022, Judge Moon of the United States District Court for the Western District of Virginia issued a temporary restraining order which stated the following pertinent details regarding the Cumberland facility: “Over 300 beagle puppies have died onsite due to ‘unknown causes’ over seven months;” “[n]ursing female beagles were denied food, and so they (and their litters) were unable to get adequate nutrition;” “[o]ver an eight-week period, 25 beagle puppies died from cold exposure;” “[p]erhaps the most heinous discovery of the November 2021 inspection was that Envigo had allowed staff to euthanize dogs without anesthesia, in violation of the facility’s own program of care;” and “[t]he Government contends that Envigo has consistently failed, despite repeated warnings and opportunities for correction, to meet its obligations under AWA’s implementing regulations to provide adequate veterinary care . . . [b]ased on the overwhelming evidence produced by the Government, the Court agrees.” On this news, Inotiv’s share price fell by approximately 28%.
Then, on June 13, 2022, Inotiv announced the closing of two Envigo facilities – the purpose-bred canine facility in Cumberland and a rodent breeding facility in Dublin – mere months after the acquisition. On this news, Inotiv’s share price fell an additional 2%, further damaging investors who suffered losses in Inotiv stock.
The Lead Plaintiff Process
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in Terra Tokens to seek appointment as lead plaintiff in the Inotiv class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class action lawsuit. An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in Inotiv stock, and have further questions, contact Inotiv Stock Loss Lawyer Timothy L. Miles today.
How Can a Inotiv Stock Loss Lawyer Help Me?
An Inotiv Stock Loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation. An Inotiv Stock Loss Lawyer focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals. Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, if they have lost money due to mistakes, incompetence, or fraud by an investment professional. While FINRA, the SEC, and state securities regulators serve a vital role in protecting investors, they simply have too many individuals, firms, and market transactions to monitor to discovery every act of fraud or negligence. Individual investors should consult with a securities lawyer if they have lost money due to fraud or stockbroker misconduct, such as an Inotiv Stock Loss Lawyer who will work to recover the losses you sustained.
Contact an Inotiv Stock Loss Lawyer if You Suffered Losses in Inotiv Stock
If you suffered significant losses in Inotiv stock, contact Inotiv Stock Loss Lawyer Timothy L. Miles today about a Inotiv class action lawsuit, and see what a Inotiv Stock Loss Lawyer can do for you.
Timothy L. Miles, Esq.
Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles was recentely selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, and more.
Timothy L. Miles
Hours of Operation