Investigations

GRABAR LAW OFFICE INVESTIGATES CLAIMS FOR SHAREHOLDERS OF PETCO HEALTH AND WELLNESS COMPANY, INC. (NASDAQ: WOOF)

Grabar Law Office is investigating claims on behalf of shareholders of Petco Health and Wellness Company, Inc. (NASDAQ: WOOF). The investigation concerns whether certain officers and directors breached the fiduciary duties they owed to the company.

Petco Health and Wellness Company, Inc. (“Petco”) is a specialty retailer that offers a variety of pet products, services, and solutions, including consumable and non-consumable products via physical and digital stores and in-store veterinary and grooming services. One of Petco’s key business metrics is comparable sales—also referred to as same-store sales or “comp”—which measures the change in period-over-period net sales from physical locations and digital sites that have been open for the applicable period..

A recently filed securities fraud class action complaint alleges that Petco (NASDAQ: WOOF), via six of its officers, made materially false and misleading statements regarding Petco’s business, operations, and prospects. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) Petco’s pandemic-related tailwinds were unsustainable, as was its business model of selling primarily premium and/or high-grade pet food; (ii) accordingly, the strength of Petco’s differentiated product strategy was overstated; (iii) Defendants downplayed the true scope and severity of the foregoing issues, the magnitude of changes needed to rectify those issues, and the likely negative impacts of their mitigation strategy on Petco’s comparable sales metric; (iv) accordingly, Defendants overstated Petco’s ability to deliver sustainable, profitable growth; and (v) as a result, Defendants’ public statements were materially false and misleading at all relevant times.

WHAT YOU CAN DO NOW: If you purchased Petco (NASDAQ: WOOF) shares prior to January 14, 2021 and still hold shares today, you are encouraged to contact Joshua Grabar at jgrabar@grabarlaw.com, or call 267-507-6085.  You can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to you whatsoever.  If, alternatively, you purchased your shares between
January 14, 2021 and June 5, 2025, you can participate in the class action.

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