LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces the filing of a class action lawsuit on behalf of investors who purchased PetMed Express, Inc. (“PetMed” or the “Company”) (NASDAQ: PETS) securities between May 8, 2017, and August 23, 2017, inclusive (the “Class Period”). PetMed investors have 60 days from the date of this notice to file a lead plaintiff motion. To obtain information or participate in the class action, please visit the PetMed page on our website at www.glancylaw.com/case/petmed-express-inc.
Investors suffering losses on their PetMed investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to shareholders@glancylaw.com.
On August 23, 2017, Aurelius Value published a report alleging that the Company targets opioid users with Google ads and other marketing techniques to facilitate the abuse of opiates.
On this news, the Company’s stock price fell $3.19 per share, more than 8%, to close at $36.22 per share on August 23, 2017.
The complaint filed in this class action alleges that throughout the Class Period, the Company made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that the Company was marketing dangerous and addictive animal drugs to humans; (2) that, as such, the Company is vulnerable to potential civil or criminal liability, as well as other regulatory action; (3) that, as a result of the foregoing, Google may halt the Company’s advertising activities; and (4) that, as a result of the foregoing, Defendants’ statements about PetMed’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
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If you purchased shares of PetMed during the Class Period you may move the Court no later than 60 days from the date of this notice to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. 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, 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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