GRABAR LAW OFFICE INVESTIGATES POTENTIAL SHAREHOLDER ACTION ON BEHALF OF CURRENT SHAREHOLDERS OF PATTERSON COMPANIES INC. (NASDAQ: PDCO)
A securities class action filed against Patterson Companies, Inc. (NASDAQ: PDCO) has preliminarily settled for $63 million. Current Patterson Companies shareholders who have held shares of the Company’s stock since at least June 26, 2013, can seek corporate reforms, the return of funds back to company coffers and potentially a court approved incentive award if appropriate.
The underlying securities class action alleged violations of the federal securities laws during the via misrepresentations and omissions that caused Patterson shareholders to purchase their stock at artificially inflated prices and suffer damages therefrom. Specifically, it is alleged that the Company and its officers made the numerous misrepresentations starting on June 26, 2013 in violation of its “Principles of Business Conduct and Code of Ethics” as pertains to the Company’s compliance with the antitrust laws and fair trade practices of the United States and all other applicable jurisdictions and related to its dealings with its competitors. It is alleged that these statements were false and misleading because Patterson had allegedly conspired with its chief competitors, Benco Dental Supply Company and Henry Schein, Inc., to prevent GPOs from entering the dental supply distribution market, in violation of antitrust laws.
Click here to review the Patterson Companies, Inc. Derivative Retainer Letter.
Additional Information About the Potential Shareholder Action
On February 4, 2022, the underlying securities class action settlement of $63 million was preliminarily approved by the U.S. District Court for the District of Minnesota.
Unlike a class action, brought on behalf of damaged investors, a shareholder derivative action is an action brought by a shareholder of a public company on behalf of and for the benefit of the company itself against the directors and/or officers of that company. In a derivative action, shareholders “step into the shoes” of the directors and officers of a company and bring litigation that the board would be unwilling to pursue on its own.
If you have continuously held Patterson Companies shares since at least June 26, 2013 and would like to learn more about this matter at no cost to you, please fill out the form provided or contact us at jgrabar@grabarlaw.com or call 267-507-6085. $PDCO
Standard Derivative Form Retainer
Standard Form Derivative Retainer Letter - No Cost