LOS ANGELES, May 24, 2018 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors that purchased or otherwise acquired the securities of Patterson Companies, Inc. (“Patterson” or the “Company”) (NASDAQ:PDCO) between June 26, 2015 and February 28, 2018, inclusive (the “Class Period”). Patterson investors have until May 29, 2018 to file a lead plaintiff motion.
To obtain information or actively participate in the class action, please visit Patterson page on our website at www.glancylaw.com/case/patterson-companies-inc. Investors that suffered losses on their Patterson investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to shareholders@glancylaw.com.
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.
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If you purchased shares of Patterson during the Class Period you may move the Court no later than May 29, 2018 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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Contacts
Glancy Prongay and Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
www.glancylaw.com
shareholders@glancylaw.com