A Patterson Companies class action lawsuit has been filed on behalf of individuals who invested in the company after it allegedly made false and misleading statements, potentially violating federal laws. If you invested in Patterson Companies, Inc. between June 26, 2015 and February 28, 2018, or if you purchased shares before June 2015, you may be able to pursue a claim with the help of a securities fraud attorney.
For more information, contact Attorney Group today. Our consultations are free, confidential and without any obligation on your part. We can help answer your questions, and if you choose to pursue a claim we can connect you with an affiliated securities fraud attorney who can assist you throughout the legal process.
FTC: Dental Supplier Conspired to Refuse to Provide Discounts to Certain Customers
According to a class action complaint filed on March 28, 2018, Patterson Companies, Inc. allegedly violated federal securities laws when the company made false and misleading statements June 26, 2015 and February 28, 2018.
Plaintiffs in the class action specifically claim
- that Patterson Companies, Inc. engaged in a fraudulent and illegal price-fixing conspiracy;
- that the company’s revenue and earnings were fraudulently inflated by the illegal scheme;
- that the scheme was aimed at prohibiting sales to and price negotiations by group purchasing organizations (GPOs) that represented small and independent dental practices; and
- that as a result of the foregoing, Defendants’ statements about Patterson’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
Patterson Companies, Inc. is a medical supplies distributor focused on the business of veterinary and dental products. Based in St. Paul, Minnesota, the company only operates in the United States and in Canada, through its subsidiaries Sammons Preston Canada and Patterson Dental Canada.
In addition to claims made against Patterson Companies, Inc. regarding false and misleading statements, the Federal Trade Commission (FTC) filed a complaint alleging that the three largest dental supply companies in the U.S. violated antitrust laws by “conspiring to refuse to provide discounts to or otherwise serve buying groups representing dental practitioners.” Patterson Companies, Inc. was one of those companies, and as a result, the FTC’s complaint potentially led shares of the company to fall dramatically.
How a Patterson Companies Class Action Lawsuit Can Help
Individuals who invested money and purchased stock in Patterson Companies, Inc. June 26, 2015 and February 28, 2018, may be eligible to pursue damages and recover their losses through a Patterson Companies class action lawsuit and are encouraged to seek the advice of an experienced securities fraud attorney to learn more about their rights and remedies.
The Time You Have to Pursue a Claim is Limited. Contact Us Today.
For more information, contact Attorney Group. You can fill out the form on this page or contact us by phone or email.
After you contact us, an attorney will follow up to answer questions that you might have. There is no cost or obligation to speak with us, and any information you provide will be kept confidential.
Please note that the law limits the time you have to pursue a claim or file a lawsuit for an injury. If you think you have a case, you should not delay taking action. Please also note, the deadline to file for lead plaintiff in this class action is May 29, 2018. You must file an application to be appointed lead plaintiff to this deadline in order to be considered by the court.
