Henry Schein, Inc. provides health care products and services to dental practitioners and laboratories, animal health clinics, physician practices, government, institutional health care clinics, and other alternate care clinics worldwide.
According to the law firm press release, the Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Henry Schein was engaging in unethical, anti-competitive behavior through agreements with Benco Dental Supply Company and Patterson Companies, Inc., in violation of United States antitrust laws; (2) Henry Schein 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) Henry Schein failed to maintain adequate internal controls; and (5) as a result, defendants’ statements about Henry Schein’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On June 22, 2018, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated Complaint on September 14. Defendants filed a Motion to Dismiss the consolidated Complaint on February 22, 2019. On September 27, 2019, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss. The claims were dismissed against two of the individual Defendants.