Investigation
Inari Medical, Inc. (NARI)
Whether directors and officers of Inari Medical, Inc. (NARI) breached their fiduciary duties to the company and its shareholders.
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Investigation
12/21/2021
Initial Lawsuit
06/23/2022
Lawsuit Progression
08/22/2022
An Inotiv, Inc. shareholder filed a class action on behalf of persons or entities who purchased or otherwise acquired publicly traded Inotiv securities between September 21, 2021, and June 13, 2022, inclusive.
According to the complaint, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants allegedly failed to disclose to investors that:
(1) Envigo and Inotiv’s Cumberland, Virginia facility engaged in widespread and flagrant violations of the Animal Welfare Act (AWA);
(2) Envigo and Inotiv’s Cumberland Facility continuously violated the AWA;
(3) Envigo and Inotiv did not properly remedy issues with regards to animal welfare at the Cumberland Facility;
(4) as a result, Inotiv was likely to face increased scrutiny and governmental action;
(5) Inotiv would imminently shut down two facilities, including the Cumberland Facility;
(6) Inotiv did not engage in proper due diligence; and
(7) 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.
Whether directors and officers of Inari Medical, Inc. (NARI) breached their fiduciary duties to the company and its shareholders.
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