RADNOR, Pa., May 04, 2018 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that a shareholder class action lawsuit has been filed against Henry Schein, Inc. (NASDAQ:HSIC) (“Henry Schein” or the “Company”) on behalf of purchasers of the Company’s securities between March 7, 2013 and February 12, 2018, inclusive (the “Class Period”).
Henry Schein investors are encouraged to visit www.kaskelalaw.com/case/henry-schein-inc/ to receive additional information about this action and submit their information online. Investors may also contact attorney D. Seamus Kaskela at (888) 715 – 1740, or via email at skaskela@kaskelalaw.com, to discuss their legal rights and options with respect to this action.
On February 12, 2018, the Federal Trade Commission (“FTC”) issued a press release entitled “FTC Sues Dental Products Distributors for Alleged Conspiracy Not to Provide Discounts to a Customer Segment.” Therein, the FTC disclosed that it had filed a complaint against Henry Schein, and certain other dental supply companies, alleging “that they violated U.S. antitrust laws by conspiring to refuse to provide discounts to or otherwise serve buying groups representing dental practitioners.”
Following this news, shares of Henry Schein’s common stock fell $4.79 per share, or over 6.6%, to close on February 13, 2018 at $67.39, on heavy trading volume.
The shareholder class action complaint alleges that Henry Schein and certain of its executive officers made a series of false and misleading statements and/or failed to disclose to investors that: (i) Henry Schein was engaging in unethical, anti-competitive behavior through agreements with Benco Dental Supply Company and Patterson Companies, Inc., in violation of U.S. antitrust laws; (ii) Henry Schein engaged in such behavior, in part, to help maintain profitability in a consolidating health care industry; (iii) these violations of U.S. antitrust laws would result in heightened scrutiny by the federal government and a lawsuit filed by the FTC; and (iv) Henry Schein failed to maintain adequate internal controls. The complaint further alleges that, as a result of the foregoing, investors purchased Henry Schein’s common stock at artificially inflated prices during the Class Period.
Investors who purchased Henry Schein securities during the Class Period may, no later than May 7, 2018, seek to be appointed as a lead plaintiff representative of the class through Kaskela Law or other counsel, or may choose to do nothing and remain an absent class member. In order to be appointed as a lead plaintiff a class member meet certain legal requirements.
Kaskela Law LLC exclusively prosecutes shareholder actions in state and federal courts throughout the country on behalf of investors. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
CONTACT:
KASKELA LAW LLC
D. Seamus Kaskela, Esq.
201 King of Prussia Road
Suite 650
Radnor, PA 19087
(888) 715 – 1740
skaskela@kaskelalaw.com
www.kaskelalaw.com