NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of PetIQ, Inc. (NASDAQ: PETQ) resulting from allegations that PetIQ may have issued materially misleading business information to the investing public.
On April 30, 2019, Spruce Point Capital Management published a report entitled “A Flea and Tick Infested Investment,” which described the Company’s “dubious past and questionable management team.” According to the report, PetIQ’s predecessors were accused of stealing hundreds of thousands of dollars’ worth of product from veterinary suppliers and using close relationships with veterinary drug wholesalers to artificially inflate assets and earnings. The report also described the suspicious circumstances surrounding PetIQ’s acquisition of VIP Petcare, “an operator of veterinary clinics and pet wellness centers which, it was later revealed, supplied nearly 50% of PetIQ's distributed products.” On this news, PetIQ’s share price fell by more than 8% on April 30, 2019.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by PetIQ investors. If you purchased shares of PetIQ please visit the firm’s website at http://www.rosenlegal.com/cases-register-1568.html to join the class action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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