Charles River Laboratories International (CRL) Shareholder Investigation

Shamis & Gentile, P.A. is investigating potential shareholder action claims on behalf of Charles River Laboratories International, Inc. ("Charles River" or the "Company") (CRL) against certain directors and officers for alleged breaches of fiduciary duty and other violations of law. Concerned shareholders are advised to contact the firm now.

The law firm is investigating whether Charles River Laboratories International's board of directors and executive officers allegedly breached their fiduciary duties to the Company and its shareholders by failing to maintain adequate internal controls and oversight systems. On February 22, 2023, the Company disclosed a U.S. Department of Justice subpoena tied to an investigation with the U.S. Fish and Wildlife Service into the Cambodian non-human primate supply chain and announced it would suspend shipments from Cambodia, reducing expected 2023 revenue growth by 200 to 400 basis points.

Following this disclosure, the Company’s stock price fell $24.51, or approximately 10%, closing at $219.09 per share on February 22, 2023, resulting in significant harm to the Company and investors.

According to an ongoing class action complaint filed on May 19, 2023, throughout the period from May 5, 2020 through February 21, 2023, the Company made materially false or misleading statements and failed to disclose material facts, including that: (1) Charles River engaged in illegal activity related to the importation of non-human primates; (2) as a result, the Company faced a heightened risk of criminal and regulatory investigation, including by the DOJ; (3) the Company would be forced to suspend shipments from Cambodia; and (4) positive statements about the Company’s business, operations, and prospects were materially misleading or lacked a reasonable basis.

If you have held Charles River Laboratories International (CRL) shares since at least May 2020, you may be able to seek corporate reforms, the return of funds back to the Company, and a court-approved incentive award for you, all at absolutely no cost.

Shamis & Gentile, P.A. stands out as an advocate for shareholders seeking corporate accountability and governance reforms. The firm is committed to pursuing shareholder actions that benefit companies and their shareholders by recovering damages and implementing meaningful corporate governance improvements. Shamis & Gentile has recovered over $1 billion for consumers nationwide. Its extensive experience, expertise and resources enable the firm to resolve disputes in a wide range of matters, including shareholder actions, class actions and complex commercial litigation.

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