On or around 12/23/2019 (Date of last review)
Filing Date: September 30, 2019
According to the Complaint, Covetrus is a global, technology-enabled Animal Health Business that touts a comprehensive service and technology platform and supply chain infrastructure for the veterinary markets. Covetrus was formed when Henry Schein, a large publicly traded health care company, spun-off its Animal Health Business and combined it with VFC, a private technology company focused on veterinary markets.
The Complaint alleges that uring the Class Period, Defendants issued a series of false and/or misleading statements and failed to disclose material adverse facts about Covetrus’ business, operations, and prospects. Specifically, the Complaint alleges Defendants’ representations to investors: (i) overstated Covetrus’ capabilities with regard to inventory management and supply chain services; (ii) understated the costs of the integration of Henry Schein’s Animal Health Business and VFC, including the timing and nature of those costs; (iii) understated Covetrus’ separation costs from Henry Schein; and (iv) understated the impact on earnings from online competition and alternative distribution channels as well as the impact of the loss of a large customer in North America just prior to the Company’s separation from Henry Schein.
On December 23, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel.
Company & Securities Information
Defendant: Henry Schein, Inc.
Industry: Medical Equipment & Supplies
Headquarters: United States
Ticker Symbol: HSIC
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
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First Identified Complaint
City of Hollywood Police Officers Retirement System, et al. v. Henry Schein, Inc., et al.
COURT: E.D. New York
DOCKET #: 19-CV-05530
JUDGE: Hon. Frederic Block
DATE FILED: 09/30/2019
CLASS PERIOD START: 02/08/2019
CLASS PERIOD END: 08/12/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Klausner Kaufman Jensen & Levinson
Saxena White P.A.
First Identified Complaint (FIC) Filings:
Class Action Complaint for Violations of the Federal Securities Laws
U.S. District Court Civil Docket
Memorandum and Order
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available