secwatch.observer — SEC 8-K summary
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Issuer:     Inotiv, Inc. (NOTV)
CIK:        0000720154
Form:       8-K
Filed at:   2024-06-04T23:59:59+00:00
Accession:  0001628280-24-026469
Event type: regulatory
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Inotiv subsidiaries plead guilty in DOJ canine-facility probe; total payments exceed $35M
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- Envigo RMS pleaded guilty to misdemeanor conspiracy to violate Animal Welfare Act; EGSI pleaded guilty to felony Clean Water Act conspiracy.
- Total resolution: $22M fine (deferred), $3M to animal taskforce, $3.5M to environmental fund, and $7M facility improvements.
- Company expects additional $2M charge in Q3 FY2024; previously recorded $26.5M charge under agreement-in-principle.
- Compliance monitor to be appointed for up to 5 years; subsidiaries on probation for up to 5 years.
- Credit agreement amended to allow EBITDA add-backs up to $28.5M for resolution costs and subordinate liens for DOJ.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/720154/000162828024026469/0001628280-24-026469-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/720154/000162828024026469/notv-20240602.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-026469

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer