NEW YORK, Sept. 17, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Inotiv, Inc. (“Xylem” or the “Company”) (NASDAQ: NOTV). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Inotiv and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On August 10, 2023, Inotiv issued a press release announcing its financial results for the third quarter of fiscal year 2023 and providing a business update. Among other items, Inotiv revised its full-year revenue guidance to $570 million, down from previous guidance of $580 million, and updated its adjusted EBITDA guidance to $60 million, down from previous guidance of $70 million.
On this news, Inotiv’s stock price fell $2.28 per share, or 35.63%, to close at $4.12 per share on August 11, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
