On January 28, 2026, a federal judge in Indiana granted final approval of an $8.75 million cash settlement between investors and Inotiv, Inc. (“Inotiv”).
Inotiv is a contract research organization specializing in nonclinical and analytical drug discovery and development services to customers in the pharmaceutical, chemical, and medical device industries, as well as to academic and governmental research institutions.
In this Action, which was first filed in June 2022, Lead Plaintiff alleges that Defendants issued material misrepresentations and omissions concerning Defendant Inotiv’s November 2021 acquisition of Envigo RMS, LLC (“Envigo”), which was purportedly designed to improve upon the Company’s access to quality research animals, including purpose-bred beagle dogs at an Envigo facility located in Cumberland, Virginia (the “Cumberland Facility”).
The alleged material misrepresentations and omissions upon which this case centers are from the period between September 21, 2021 and May 20, 2022, inclusive. Specifically, Lead Plaintiff Oklahoma Police Pension & Retirement System alleges that the Defendants made materially false and/or misleading statements to investors that failed to contemporaneously disclose widespread and ongoing Animal Welfare Act violations at the Cumberland Facility, which triggered a federal and state law enforcement raid on May 18, 2022, and the eventual shuttering of the Cumberland Facility. Lead Plaintiff alleges that, as a result of these alleged misrepresentations and omissions, the price of Inotiv common stock was artificially inflated during the Settlement Class Period.
“After over three years of hard-fought litigation, including successfully defeating the Defendants’ motion to dismiss, we are incredibly proud of this result. In the face of significant risks and after long and difficult settlement negotiations, we succeeded in securing a recovery for Inotiv’s investors that is more than double the median recovery in comparable cases in the Seventh Circuit,” commented Boston Partner Steven Buttacavoli. “We thank our client for its dedication to this matter from start to finish.”
Berman Tabacco is proud to represent Lead Plaintiff Oklahoma Police Pension & Retirement System in this Action. The Berman Tabacco litigation team included:
Patrick Egan
Steven Buttacavoli
Justin Saif
Christina Fitzgerald
Read more about the case and settlement here: https://www.inotivsecuritiessettlement.com/
