NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Henry Schein, Inc. (“Henry Schein” or the “Company”) (NASDAQ:HSIC) of the May 7, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Henry Schein stock or options between March 7, 2013 and February 12, 2018 and would like to discuss your legal rights, click here: www.faruqilaw.com/HSIC. There is no cost or obligation to you.
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The lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of all those who purchased Henry Schein securities between March 7, 2013 and February 12, 2018 (the “Class Period”). The case, Salkowitz v. Henry Schein, Inc. et al, No. 1:18-cv-01428 was filed on March 7, 2018, and has been assigned to Judge Margo Kitsy Brodie.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the Company was engaging in unethical, anticompetitive behavior through agreements with Benco Dental Supply Company and Patterson Companies, Inc., in violation of U.S. antitrust laws; (2) the Company 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 Federal Trade Commission (“FTC”); (4) the Company failed to maintain adequate internal controls; and (5) as a result, the Company’s statements about its business, operations and prospects were materially false and misleading and/or lacked a reasonable basis.
Specifically, on February 12, 2018, the FTC issued a press release announcing that it filed a complaint against Henry Schein, among others, alleging violations of U.S. antitrust laws. On this news, Henry Schein’s share price fell from $72.18 per share on February 12, 2018 to a closing price of $67.39 on February 13, 2018—a $4.79 or a 6.64% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Henry Schein’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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