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Patterson Companies Inc (NASDAQ: PDCO) Investor Securities Class Action Lawsuit 03/28/2018

  • If you purchased shares of Patterson Companies Inc (NASDAQ: PDCO), you may have certain options. Please contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Patterson Companies, Inc.
Security
NASDAQ: PDCO

Case Name
Patterson Companies Shareholder Class Action Lawsuit 03/28/2018
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the District of Minnesota

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

September 10, 2019 - The court granted in part and denied in part the defendants' motion to dismiss.

January 18, 2019 - A motion to dismiss the amended complaint was filed.

November 9, 2018 - An amended complaint was filed.

March 28, 2018 - An investor in shares of Patterson Companies Inc (NASDAQ: PDCO) filed a lawsuit in the U.S. District Court for the District Court of Minnesota over alleged violations of Federal Securities Laws by Patterson Companies Inc in connection with certain allegedly false and misleading statements made between June 26, 2015 and February 28, 2018.

Saint Paul, MN based Patterson Companies Inc is a value-added distributor focused on providing a customer experience to professionals in the dental and animal health markets.

According to the complaint the plaintiff alleges on behalf of purchasers of Patterson Companies Inc (NASDAQ: PDCO) common shares between June 26, 2015 and February 28, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between June 26, 2015 and February 28, 2018, the defendants allegedly made false and/or misleading statements and/or failed to disclose that defendants were engaged in a fraudulent and illegal price-fixing conspiracy, that the Company’s revenue and earnings were fraudulently inflated by the illegal scheme, that the scheme was aimed at prohibiting sales to and price negotiations by group purchasing organizations (“GPOs”) that represented small and independent dental practices, and that as a result of the foregoing, Defendants’ statements about Patterson Companies Inc’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.

On February 12, 2018, it was reported that the Federal Trade Commission (FTC) has filed a complaint against the three largest U.S. dental supply companies in the country, including Patterson Companies Inc. The complaint alleges that the companies conspired to prevent dental groups from buying their products in bulk at a discount.