NEW YORK--(BUSINESS WIRE)--Scott+Scott Attorneys at Law LLP (“Scott+Scott”), an international securities and consumer rights litigation firm, is investigating certain directors and officers of Patterson Companies, Inc. (“Patterson”) (NASDAQ: PDCO) for breaching their fiduciary duties to Patterson and its shareholders. If you are a Patterson shareholder, you may contact attorney Joe Pettigrew for additional information toll-free at 844-818-6982 or firstname.lastname@example.org.
Scott+Scott is investigating whether Patterson’s board of directors caused, or allowed, Patterson to violate federal antitrust and securities laws, in breach of the fiduciary duties they owe to Patterson and its shareholders.
On February 12, 2018, the Federal Trade Commission announced that it filed a complaint against the nation's three largest dental supply companies – Benco Dental Supply Company, Henry Schein, Inc., and Patterson – alleging that they violated U.S. antitrust laws by conspiring to refuse to provide discounts to or otherwise serve buying groups representing dental practitioners. These buying groups sought lower prices for dental supplies and equipment on behalf of solo and small-group dental practices seeking to gain discounts by aggregating and leveraging the collective purchasing power and bargaining skills of the individual practices.
Subsequently, Patterson was sued in a securities class action suit, which alleges that Patterson failed to disclose that: (1) Patterson was engaged in a fraudulent and illegal price-fixing conspiracy; (2) Patterson’s revenue and earnings were fraudulently inflated by the illegal scheme; (3) the scheme was aimed at prohibiting sales to and price negotiations by group purchasing organizations that represented small and independent dental practices; and (4) as a result, Patterson’s public statements about its business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
What You Can Do
If you are a Patterson shareholder, you may have legal claims against Patterson’s directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew toll-free at 844-818-6982 or email@example.com.
Scott+Scott has significant experience in prosecuting major securities, antitrust, and consumer rights actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Amsterdam, Connecticut, California, and Ohio.