Patterson Companies, Inc. (NASDAQ: PDCO)

DEFENDANT NAME: Patterson Companies, Inc.
STOCK SYMBOL: NASDAQ: PDCO
CASE NUMBER:
COURT: U.S. District Court for the District of Minnesota
PRACTICE AREA: Investor Fraud
STATUS: Investigation
CLASS PERIOD: June 26, 2015 - February 28, 2018
LEAD PLAINTIFF DEADLINE: May 29, 2018
DATE FILED:
COURT LOCATION:
RELATED DOCUMENTS:
CONTACT:
510-725-3000 PDCO@hbsslaw.com

Hagens Berman Sobol Shapiro LLP alerts investors in Patterson Companies, Inc. (NASDAQ: PDCO) to the securities class action pending the U.S. District Court for the Northern District of Illinois and the May 29, 2018 Lead Plaintiff deadline.

If you purchased or otherwise acquired shares of PDCO between June 26, 2015 and February 28, 2018 and suffered losses contact Hagens Berman Sobol Shapiro LLP.  For more information, contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing PDCO@hbsslaw.com.

On February 12, 2018, the United States Federal Trade Commission (“FTC”) announced it sued Patterson Companies and two other dental supply companies for illegally conspiring to restrain competition for dental products in the United States.

More specifically, the FTC charges the Company:  (a) illegally restrained price competition for dental products in the United States; (b) distorted prices and undermined the ability of independent dentists to obtain lower prices and discounts for dental products; (c) deprived independent dentists of the benefits of vigorous price and service competition among full-service, national dental distributors; (d) unreasonably reduced output of dental products to dental buying groups; and (e) eliminated or reduced the competitive bidding process for sales to these buying groups.

This news drove the price of Patterson Companies shares down $1.71, or about 5%, to close at $31.21 on February 13, 2018.

Then, on March 1, 2018, Defendants announced its Chief Financial Officer left her position effective immediately.

This news drove the price of Patterson Companies shares down $7.48, or about 23%, to close at $24.11 that day.

“Patterson Companies investors have suffered enormous losses,” said Hagens Berman partner Reed Kathrein.  “We’re focused on Defendants’ statements to investors about the Company’s revenues and purported industry competition.”

Whistleblowers:  Persons with non-public information regarding Patterson Companies should consider their options to help in the investigation or take advantage of the SEC Whistleblower program.  Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.  For more information, call Reed Kathrein at 510-725-3000 or email PDCO@hbsslaw.com.


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