RM LAW, P.C. announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased Patterson Companies, Inc. (“Patterson” or the “Company”) (NASDAQ: PDCO) securities between June 26, 2015 and February 28, 2018, inclusive (the “Class Period”).
Patterson shareholders may, no later than May 29, 2018, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of Patterson and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.
Patterson is one of the nation’s only full-service distributors of dental products. The Company distributes its products mainly through two subsidiaries—Patterson Dental and Patterson Animal Health.
The Complaint asserts claims for violations of the Securities Exchange Act of 1934. The Complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects.
Specifically, Defendants allegedly made false and/or misleading statements and/or failed to disclose that: (1) Defendants were engaged in a fraudulent and illegal price-fixing conspiracy; (2) the Company’s revenue and earnings were fraudulently inflated by the illegal scheme; (3) the scheme was aimed at prohibiting sales to and price negotiations by group purchasing organizations (“GPOs”) that represented small and independent dental practices; (4) as a result of the foregoing, Defendants’ statements about Patterson’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
If you are a member of the class, you may, no later than May 29, 2018, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as “lead plaintiff.” Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain RM LAW, P.C. or other counsel of your choice, to serve as your counsel in this action.