Charles River Laboratories International, Inc.
|Company Name||Charles River Laboratories International, Inc.|
On February 22, 2023, Charles River disclosed that it received a subpoena from the Justice Department relating to an ongoing investigation into the supply chain and illegal importation of nonhuman primates for research. The Company has voluntarily suspended shipments of primates from Cambodia. The Company also warned that the decision to suspend shipments will negatively impact its earnings this year and will reduce revenue growth by 200 basis points to 400 basis points.
On this news, Charles Rivers’ stock price fell as much as 15% during intraday trading on February 22, 2023, thereby injuring investors.
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