NEW YORK, June 05, 2024 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Petco Health and Wellness Company, Inc. (“Petco” or the “Company”) (NASDAQ: WOOF). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Petco and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On May 28, 2024, Petco issued a press release announcing significant changes to its management team, citing “the Company’s ongoing efforts to simplify decision making, focus on fewer and clearer priorities, and empower the organization to move with greater speed and agility.” Among other changes, Petco announced the departure of Chief Operating Officer (“COO”) Justin Tichy and the elimination of the COO role, along with the appointment of James Roth as Chief Stores Officer and the appointment of Shari White as Interim Chief Merchant, both reporting directly to Chief Executive Officer Mike Mohan.
On this news, Petco’s stock price fell $0.29 per share, or 8.48%, to close at $3.13 per share on May 29, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
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