NEW YORK, June 24, 2022 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Inotiv, Inc. (“Inotiv” or the “Company”) (Nasdaq: NOTV) in the United States District Court for the Norther District of New Indiana on behalf of investors who purchased Inotiv stock between September 21, 2021 and June 13, 2022, inclusive (the “Class Period”).
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: Envigo RMS, LLC (“Envigo”) and Inotiv’s Cumberland, Virginia facility (the “Cumberland Facility”) engaged in widespread and flagrant violations of the Animal Welfare Act (“AWA”); Envigo and Inotiv’s Cumberland Facility continuously violated the AWA; Envigo and Inotiv did not properly remedy issues with regards to animal welfare at the Cumberland Facility; as a result, Inotiv was likely to face increased scrutiny and governmental action; Inotiv would imminently shut down two facilities, including the Cumberland Facility; Inotiv did not engage in proper due diligence; and 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.
Investors who purchased or otherwise acquired shares of Innovative Industrial should contact the Firm prior to the August 22, 2022 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
