NEW YORK, Aug. 29, 2017 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against PetMed Express, Inc. (“PetMed” or the “Company”) (Nasdaq:PETS) in the United States District Court for the Southern District of Florida on behalf of a class consisting of investors who purchased or otherwise acquired PetMed securities on the open market from May 8, 2017 through August 23, 2017, inclusive (the “Class Period”), seeking to recover compensable damages caused by Defendants’ violations of the Securities Exchange Act of 1934.
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) PetMed was marketing dangerous and addictive animal drugs to humans; (2) as such, PetMed is vulnerable to potential civil or criminal liability, as well as other regulatory action; (3) in turn, Google may halt PetMed’s advertising activities; and (4) as a result, Defendants’ statements about PetMed’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
If you wish to serve as lead plaintiff, you must move the Court no later than October 24, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
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