Benjamin Shaw

The investment firm Clayton, Dubilier & Rice is already a major shareholder in the company. But the additional stake gives the firm two seats at the Covetrus board table and larger voting rights.

Senior management changes continue at the Portland-based animal-health company, which has seen repeated turnover in its C suite over the past few months.

Covetrus Inc. on Tuesday reported financial results for the year’s third quarter that include a write-down of the company’s goodwill value by nearly $1 billion.

Less than a month after he and the animal-health products company he led were sued over securities fraud allegations, the president and CEO of Portland-based Covetrus Inc. has resigned.

The animal-health products company based in Portland is being sued by investors who claim Covetrus made false statements about its capabilities before going public in February.

David Shaw, chairman of Covetrus Inc., stepped down Wednesday from his role, but remains a board member. Another member, Betsy Atkins, has resigned.

While it may not have the cachet of biotechnology hubs like Boston and San Francisco, Maine is...

Like some of its products, cultivated from the cells, strands and science of living organisms, Maine’s biotechnology industry has grown organically.