RADNOR, Pa.--(BUSINESS WIRE)--The law firm of Kessler Topaz Meltzer & Check, LLP announces that a shareholder class action lawsuit has been filed against Henry Schein, Inc. (Nasdaq: HSIC) (“Henry Schein” or the “Company”) on behalf of purchasers of the Company’s securities between March 7, 2013 and February 12, 2018, inclusive (the “Class Period”).
Henry Schein shareholders who purchased securities during the Class Period may, no later than May 7, 2018, seek to be appointed as a lead plaintiff representative of the class.
Shareholders who wish to discuss this action or request additional information about the lawsuit are encouraged to contact Kessler Topaz Meltzer & Check attorneys D. Seamus Kaskela or Adrienne Bell at (888) 299-7706 or online at: https://www.ktmc.com/new-cases/henry-schein-inc#join.
Henry Schein provides health care products and services to medical and dental practitioners.
On February 12, 2018, the Federal Trade Commission (“FTC”) issued a press release entitled “FTC Sues Dental Products Distributors for Alleged Conspiracy Not to Provide Discounts to a Customer Segment.” Therein the FTC disclosed that it had filed a complaint against Henry Schein, and certain other dental supply companies, alleging “that they violated U.S. antitrust laws by conspiring to refuse to provide discounts to or otherwise serve buying groups representing dental practitioners.”
Following this news, shares of Henry Schein’s common stock fell $4.79 per share, or over 6.6%, to close on February 13, 2018 at $67.39, on heavy trading volume.
The shareholder class action complaint alleges that Henry Schein and certain of its senior executive officers made false and misleading statements and/or failed to disclose to investors that: (1) Henry Schein was engaging in unethical, anti-competitive behavior through agreements with Benco Dental Supply Company and Patterson Companies, Inc., in violation of U.S. antitrust laws; (2) Henry Schein engaged in such behavior, in part, to help maintain profitability in a consolidating health care industry; (3) these violations of U.S. antitrust laws would result in heightened scrutiny by the federal government and a lawsuit filed by the FTC; (4) Henry Schein failed to maintain adequate internal controls; and (5) as a result of the foregoing, the defendants’ statements about Henry Schein’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Henry Schein shareholders may, no later than May 7, 2018, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class in the action. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. Kessler Topaz Meltzer & Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The complaint in this action was not filed by Kessler Topaz Meltzer & Check. For more information about Kessler Topaz Meltzer & Check, please visit www.ktmc.com.