NEW YORK, Nov. 05, 2023 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of PetMed Express, Inc. (“PetMed” or the “Company”) (NASDAQ: PETS). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether PetMed and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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After the market closed on October 30, 2023, PetMed announced its Q2 2023 results, reporting, among other things, that dividends will be suspended for the Company to invest in projects and initiatives that can give better returns. Previously, PetMed has declared a $0.30 per share dividend for 10 consecutive quarters. In addition, the Company reported net sales of $71M, missing estimates by $5M.
On this news, PetMed’s stock price fell $2.29 per share, or 24.94%, to close at $6.89 per share on October 31, 2023.
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 numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
