The firm is investigating potential claims against the board of directors of Patterson Companies, Inc. (Nasdaq: PDCO) concerning whether the board has breached its fiduciary duties to shareholders or violated the federal securities laws.
The complaint filed in this class action alleges that, the Company issued false and/or misleading statements and/or failed to disclose that: (1) defendants were engaged in a fraudulent and illegal price-fixing conspiracy; (2) Patterson'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 which represented small and independent dental practices; (4) as a result, defendants' statements about Patterson's business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
On February 12, 2018, the Federal Trade Commission (“FTC”) filed a complaint against certain dental supply companies, including Patterson, claiming that they violated U.S. antitrust laws by conspiring to refuse to provide discounts to, or otherwise serve, buying groups representing dental practitioners. On this news, Patterson’s share price fell $7.47 per share, or 23.6%, thereby injuring investors.
If you are aware of any facts relating to this investigation, or are a current shareholder and would like to discuss your options of exercising your rights as a shareholder, please contact us.
Please submit the following information so we can determine if you qualify for the suit. If you don't know all the specific details, partial information is also acceptable.
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