PetMed Express, Inc.
| Company Name | PetMed Express, Inc. |
| Stock Symbol | PETS |
| Lead Plaintiff Motion Deadline | October 24, 2017 |
| Status | 1 |
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 basi
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