PETsMART, Inc. - Securities Class Action

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_______________
Copyright (c) 2001
Stanford Law School

PETsMART, Inc. Conclusion: According to the firm's 10-K dated 4/24/2000, on May 18, 1998, the District Court entered an order consolidating the securities class action litigation into a single action entitled in Re PETsMART, Inc. Securities Litigation, CIV-98-20-PHX-ROS (JBM), amended complaint in the District Court. The Company and the individual defendants filed a motion to dismiss the consolidated amended complaint, and on June 3, 1999, the Court entered an order granting the motion to dismiss. The Plaintiffs filed a notice of appeal, but they subsequently stipulated to dismiss their appeal. Accordingly, the action has been fully and finally resolved.

The original complaint alleged that defendants violated the federal securities laws (Sections 10(b) and 20(a) of the Securities Exchange Act of 1934) by misrepresenting or failing to disclose material information about PETsMART's financial results. The complaint alleged that defendants issued false and misleading press releases and financial statements for 1996 and 1997 and improperly deferred the write down of its obsolete preventive flea and tick inventory. As a result of defendants' false and misleading statements and material omissions, the price of PETsMART's stock was substantially artificially inflated during the Class Period, such that persons who purchased common stock during the Class Period were damaged by overpaying for the stock.

INDUSTRY CLASSIFICATION:
SIC Code: 5990
Sector: Services
Industry: Retail (Specialty)

COMPANY/ISSUER NAME:	PETsMART, Inc.
COMPANY/ISSUER TICKER:	PETM
COMPANY WEBSITE:	http://www.petsmart.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Charles Miller, et al v. Samuel J. Parker, et al.

COURT: D. Arizona	DOCKET NUMBER: 98-CV-00020
JUDGE NAME: Hon. James B. Moran
DATE FILED: 01/06/1998	SOURCE: Business Wires
CLASS PERIOD START: 11/19/1996	CLASS PERIOD END: 09/17/1997
TYPE OF COMPLAINT: Unamended/Unconsolidated
PLAINTIFF FIRMS IN THIS OR SIMILAR CASE:
Wechsler Harwood LLP 488 Madison Avenue 8th Floor, New York, NY, 10022 (voice) 212.935.7400, (fax) , info@whhf.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 1

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
CIVIL DOCKET FOR CASE #: 98-CV-20
Type: Docket		Date on the document: 04/06/1998

REFERENCE COMPLAINT

In Re PETsMART, Inc. Securities Litigation

COURT: D. Arizona	DOCKET NUMBER: 98-CV-00020
JUDGE NAME: Hon. James B. Moran
DATE FILED: 07/21/1998	SOURCE: Business Wires
CLASS PERIOD START: 11/19/1996	CLASS PERIOD END: 09/17/1997
TYPE OF COMPLAINT: First Consolidated
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Bonnett, Fairbourn, Friedman & Balint, PC 2901 North Central Avenue - Suite 1000, Phoenix, AZ, 85012 (voice) 602.274.1100, (fax) 602.274.1199, Wechsler Harwood LLP 488 Madison Avenue 8th Floor, New York, NY, 10022 (voice) 212.935.7400, (fax) , info@whhf.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 2

DOCUMENTS FOR THE REFERENCE COMPLAINT
U.S. District Court Civil Docket
Type: Docket		Date on the document: 06/13/2000

OTHER DOCUMENTS

Case Name and/or Number:
Type:		Date on the document:

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