Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., from the law firm of Kahn Swick & Foti, LLC (KSF), has announced a new investigation into Inotiv, Inc. (NasdaqCM: NOTV). This investigation is focused on whether Inotiv’s officers and/or directors breached their fiduciary duties or violated state or federal laws.
In November 2021, Inotiv completed its acquisition of Envigo RMS, LLC (Envigo), a company that had been charged with multiple serious violations of the Animal Welfare Act (AWA) for their mistreatment of dogs used for scientific research. The violations were discovered with the execution of a federal search warrant at Envigo’s Cumberland Facility in May 2022. Inotiv failed to detect or address these violations during their due diligence reviews and acquisition process, and they also did not disclose these violations to shareholders.
As a result, Inotiv and some of its executives were sued in a securities class action lawsuit, alleging that they failed to disclose material information during the Class Period. The court overseeing the case recently denied Inotiv’s motion to dismiss, allowing the lawsuit to proceed.
KSF’s investigation aims to uncover any breaches of fiduciary duties or violations of laws by Inotiv’s officers and/or directors. They are actively seeking information that would assist in their investigation. If you have any information or if you have been a long-term holder of Inotiv shares and want to discuss your legal rights, you can contact KSF toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ( [email protected]). More information can also be found on the KSF website at https://www.ksfcounsel.com/cases/nasdaqcm-notv/.
About Kahn Swick & Foti, LLC:
Kahn Swick & Foti, LLC (KSF) is a leading boutique securities litigation law firm with offices in New York, Delaware, California, Louisiana, and New Jersey. They represent a range of clients, including public institutional investors, hedge funds, money managers, and retail investors, in seeking recoveries for investment losses resulting from corporate fraud or malfeasance by publicly traded companies.
For more information about KSF, visit their website at www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163
(Source: Kahn Swick & Foti, LLC)
The article discusses a new investigation into Inotiv, Inc. by the law firm of Kahn Swick & Foti, LLC. The investigation is focused on whether Inotiv’s officers and/or directors breached their fiduciary duties or violated state or federal laws. This investigation stems from Inotiv’s acquisition of Envigo RMS, LLC, a company that had been charged with multiple violations of the Animal Welfare Act for mistreatment of dogs used in scientific research.
One key fact not mentioned in the article is the current market trends in the biotechnology industry, in which Inotiv operates. The biotechnology market is currently experiencing significant growth, driven by factors such as increasing investments in research and development, advancements in gene therapy, and the demand for personalized medicine. This growth presents an opportunity for companies like Inotiv to capitalize on the market trends and expand their business operations.
In terms of forecasts, it is difficult to predict the specific impact of the investigation on Inotiv’s future prospects. However, it is worth noting that companies in the biotechnology industry are subject to strict regulatory oversight, and any violations or controversies related to animal welfare can have reputational and financial implications. Investors and stakeholders will closely monitor the outcome of the investigation and any subsequent legal actions, which could potentially affect Inotiv’s stock price and market position.
One of the key challenges associated with the subject is the ethical concerns and controversies surrounding animal welfare in scientific research. The mistreatment of animals used in research has been a long-standing issue, with activists and organizations advocating for stricter regulations and alternatives to animal testing. This investigation further highlights the importance of ensuring animal welfare standards are met and the potential consequences for companies that fail to comply with these standards.
Advantages of the investigation include the potential for accountability and justice if any breaches of fiduciary duties or violations of laws are uncovered. This can help address the concerns of investors and stakeholders who may have been affected by the alleged lack of disclosure by Inotiv. It also serves as a reminder to companies in the biotechnology industry to prioritize ethical practices and adhere to regulations.
On the other hand, a disadvantage of the investigation is the potential negative impact on Inotiv’s reputation and financial performance. Legal proceedings and controversies can create uncertainty and erode investor confidence, which may affect the company’s ability to attract investment and secure contracts with clients. Inotiv will need to effectively address these issues and demonstrate a commitment to addressing any shortcomings in their due diligence and disclosure processes.
For more information, you can visit the Kahn Swick & Foti, LLC website at “www.ksfcounsel.com“.