This lawsuit is for anyone who acquired securities in PetMed Express, Inc. (NASDAQ: PETS) from May 8, 2017 through August 23, 2017.
The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, during the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company failed to disclose that it was purposely marketing an opioid used by veterinarians to opioid addicts and, as such, that the Company's financial statements were misleading in that they included a source of revenue that the Company should have known would no longer exist once authorities caught the Company. Also, the Company's financial statements were misleading for their failure to include that the Company's actions subject the Company to civil and/or criminal liability.
On August 23, 2017, Aurelius Value published a research report on PetMed alleging that the Company was aggressively marketing dangerous painkillers to human opiate addicts and drug users. Aurelius Value claimed, among other things, that PetMed was pushing a synthetic opiate named Tramadol, a class IV substance which is unique in that it is prescribed by vets to animals as well as by doctors to human cancer patients, through a broad marketing blitz that features Tramadol in ads that specifically target human opiate users searching for how to get high without a prescription. Aurelius Value even alleges that the Company publishes ads specifically baiting opiate addicts searching for remedies for their withdrawal symptoms. On this news, the price of the Company's stock dropped precipitously on unusually heavy trading volume.
The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in PetMed Express, Inc. (NASDAQ: PETS) from May 8, 2017 through August 23, 2017 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.
Join the Class Action
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I, the Plaintiff, certify that:
1. I have reviewed the Complaint and authorized its filing.
2. Plaintiff did not purchase the security that is the subject of this
action, at the direction of plaintiff's counsel or in order to
participate in any private action arising under this title.
3. I am willing to serve as a representative party on behalf of a class
and will testify at deposition and trial, if necessary.
4. My transactions in the securities, which are the subject of this
action, during the Class Period set forth in the Complaint are as
5. I have not served as a representative party on behalf of a class
under the federal security laws during the last three years, except
if detailed below.
6. I will not accept any payment for serving as a representative party,
except to receive my pro rata share of any recovery or as ordered
or approved by the court including the award to a representative
plaintiff of reasonable costs and expenses (including lost wages)
directly relating to the representation of the class.
agreement and retain the Law Offices of Howard G. Smith and its associates to proceed on Plaintiff's behalf, on a contingent fee basis. If I am executing this agreement on behalf of an institution, I further certify that I am authorized to execute this agreement on behalf of the institution.