PetMed Express, Inc. (NASDAQ: PETS)

DEFENDANT NAME: PetMed Express, Inc.
STOCK SYMBOL: NASDAQ: PETS
CASE NUMBER:
COURT:
PRACTICE AREA: Investor Fraud
STATUS: Investigation
CLASS PERIOD:
LEAD PLAINTIFF DEADLINE:
DATE FILED:
COURT LOCATION:
RELATED DOCUMENTS:
CONTACT:
510-725-3000 PETS@hbsslaw.com

Hagens Berman alerts investors in PetMed Express, Inc. (NASDAQ: PETS) to the firm’s investigation into possible securities law violations in response to alleged improper opioid sale.

If you purchased or otherwise acquired securities of PetMed before August 23, 2017 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 PETS@hbsslaw.com.

On August 23, 2017, a blog post by Aurelius Value entitled “PetMed: Exploiting America’s Opioid Epidemic” raised several critical questions about PetMed.  More specifically, Aurelius alleged PetMed has been targeting the sale of opioid medication like tramadol to individuals, not just pet owners for the pets themselves.

This post drove the price of PetMed shares down $3.19, or about 8% on heavy volume, to close at $36.22 on August 23, 2017.

On August 24, 2017, Benzinga reported ads for PetMed’s tramadol were removed from Alphabet Inc.’s Google searches.

“We’re investigating the merits of Aurelius’ allegations and, if true, the damages suffered by PetMed investors,” said Hagens Berman partner Reed Kathrein.

Whistleblowers:  Persons with non-public information regarding PetMed should consider their options to help in the investigation or take advantage of the SEC Whistleblower program.  Under the new SEC whistleblower 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 PETS@hbsslaw.com.


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08/24/17: Investigation