LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of Covetrus, Inc. (“Covetrus” or the “Company”) (NASDAQ: CVET) investors concerning the Company and its officers’ possible violations of federal securities laws.
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If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com.
In February 2019, Covetrus was formed through a spin-off of Henry Schein’s Animal Health Business, which was merged with Vets First Choice (VFC).
On August 13, 2019, before the market opened, Covetrus reported a net loss of $0.09 per share for the second quarter of 2019, well below analyst estimates of $0.17 in net income per share. Additionally, the Company also revealed difficulties integrating the platforms and disclosed increased spending to eliminate obligations to Henry Schein as part of the spin-off agreement.
On this news, the Company’s share price fell $9.30, or 40%, to close at $13.89 per share on August 13, 2019, thereby injuring investors.
If you purchased Covetrus securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley F. Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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