LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz continues its investigation of PetMed Express, Inc. ("PetMed†or the "Company†) (NASDAQ: PETS) on behalf of investors concerning the Company's possible violations of federal securities laws. IF YOU ARE AN INVESTOR WHO LOST MONEY ON PETMED EXPRESS, INC. (PETS), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING A CLAIM TO RECOVER YOUR LOSS. What Is The Investigation About? On June 10, 2025, PetMed disclosed that it would be delaying th. ...

Core Viewpoint - PetMed Express has faced a significant decline in share price, approximately 26% since June 16, 2025, due to issues surrounding its financial reporting and internal investigations [1][4]. Financial Reporting Issues - The company announced it would not timely file its annual financial statements for the year ended March 31, 2025, requiring additional time for data compilation and verification [4]. - Subsequent announcements revealed that PetMed overstated net sales by $6.969 million for the year ended March 31, 2024, and by $9.01 million for the prior year [7]. Internal Investigations - An internal investigation was initiated following a whistleblower complaint regarding revenue recognition related to autoship orders, which led to customer complaints [5]. - The Audit Committee chair resigned abruptly on July 28, 2025, amid these investigations [5]. Management Changes - On August 12, 2025, both the CEO and CFO of PetMed resigned effective immediately due to ongoing issues related to the internal investigation [6]. Legal and Regulatory Actions - Hagens Berman, a national shareholders rights firm, has opened an investigation into whether PetMed misled investors regarding its financial results and adherence to accounting principles [2][3]. - The firm is encouraging affected investors to submit their losses and is seeking information from individuals who may assist in the investigation [2][8].

Group 1 - Block & Leviton is investigating PetMed Express, Inc. for potential securities law violations following significant delays in financial reporting and executive resignations [1][2][4] - PetMed Express announced a delay in its 2025 fourth quarter and year-end financial results on June 10, 2025, and further delayed the filing due to an internal investigation into revenue recognition [2] - The company's stock price has fallen by almost 30% after the resignation of its CEO and CFO on August 12, 2025 [2] Group 2 - Investors who have lost money in PetMed Express may be eligible to recover losses and are encouraged to contact Block & Leviton for more information [3][5] - Block & Leviton is recognized as a leading securities class action firm, having recovered billions of dollars for defrauded investors [7] - Whistleblowers with non-public information about PetMed Express may assist in the investigation and could receive rewards of up to 30% of any successful recovery [6]

Core Viewpoint - PetMed Express, Inc. has announced the resignation of its CEO Sandra Campos and CFO Robyn D'Elia, leading to interim leadership changes as the company searches for new executives [1][2]. Leadership Changes - Leslie C.G. Campbell, Chair of the Board, has taken on the role of Interim CEO, while Douglas Krulik, Chief Accounting Officer, is now the Interim Principal Financial Officer [2]. - The company is actively seeking candidates for both the CEO and CFO positions [2]. Separation Agreements - Both Campos and D'Elia have entered into separation agreements that include severance payments equivalent to their current base salary for thirteen months and accelerated vesting of some unvested restricted stock units [3]. - They will also provide consulting services to the company for three months on an as-needed basis [3]. Board of Directors Adjustments - Following Campos's resignation, she also stepped down from the Board of Directors, reducing the board size to five members [4]. - Campbell will remain as Chair of the Board but will resign from the Audit Committee and the Compensation and Human Capital Committee [4]. - Justin Mennen has been appointed as Lead Independent Director, with Peter Batushansky and Leah Solivan taking over as Chairs of the Audit Committee and Compensation and Human Capital Committee, respectively [4]. Company Overview - PetMed Express, Inc. is a pioneer in the direct-to-consumer pet healthcare sector, offering a wide range of pet health solutions, including pharmaceuticals and OTC supplements [5]. - The company is licensed across all 50 states and aims to support pet wellness through its online pharmacy services [5].

Core Viewpoint - PetMeds has partnered with the myBalto Foundation to support pets in need through a fundraising drive that raised nearly $45,000, highlighting the importance of financial support for veterinary care [1][2][3] Company Overview - PetMeds, founded in 1996, is a pioneer in the direct-to-consumer pet healthcare sector, licensed across all 50 states, and offers a wide range of pet health solutions including pharmaceuticals and OTC supplements [4] - The company aims to empower pet parents to ensure their pets live longer, healthier lives through value, convenience, and care [4] myBalto Foundation - myBalto is a platform that enables veterinary hospitals to create custom Angel Funds, providing financial support to pet owners facing hardships, thereby reducing the rate of financial euthanasia [5] - The foundation's Angel Funds offer swift and flexible support for emergency veterinary care, reflecting a commitment to pet health and welfare [3][5]

Core Viewpoint - Bragar Eagel & Squire, P.C. is investigating potential claims against PetMed Express, Inc. for possible violations of federal securities laws and unlawful business practices [1][2]. Group 1: Company Actions - On June 10, 2025, PetMed announced a delay in releasing its fourth quarter and fiscal year 2025 earnings due to the need for additional time to complete the year-end audit process [2]. - Following the announcement, PetMed's stock price dropped by $0.47 per share, or 11.22%, closing at $3.72 per share on June 11, 2025 [2]. Group 2: Legal Investigation - The law firm is encouraging investors who suffered losses in PetMed to contact them to discuss their legal rights and options [1][3]. - The investigation aims to determine if PetMed has engaged in any unlawful business practices that could affect shareholders [1]. Group 3: Firm Information - Bragar Eagel & Squire, P.C. is a nationally recognized law firm that represents individual and institutional investors in various types of litigation across the United States [4].

Company Overview - PetMed Express, Inc. is an online pet pharmacy that provides prescription and non-prescription medications, supplements, and pet supplies directly to consumers across the United States [3]. Allegations and Stock Impact - On June 10, 2025, PetMed announced a delay in releasing its fourth-quarter and full-year 2025 earnings due to the need for additional time to complete its year-end audit process, resulting in a stock price decline of $0.47, or 11.2%, closing at $3.72 per share on June 11, 2025 [3]. - On July 1, 2025, PetMed disclosed another delay in filing its annual report with the SEC, linked to an internal investigation by the Audit Committee regarding whistleblower complaints about revenue recognition, promotional coupon impacts, and company culture. This announcement led to a further stock price drop of $0.05, or 1.51%, closing at $3.27 per share on the same day [3]. Legal Investigation - Edelson Lechtzin LLP is investigating potential violations of federal securities laws involving PetMed, stemming from allegations of providing misleading business information to investors [1].

Core Viewpoint - PetMed Express, Inc. has received a notice from Nasdaq regarding non-compliance with listing rules due to the late filing of its Annual Report on Form 10-K for the fiscal year ending March 31, 2025 [1][3]. Group 1: Compliance and Filing Status - The notice indicates that the company must submit a plan to regain compliance within 60 days, by September 1, 2025, and may receive an extension of up to 180 days to regain compliance [3]. - The company filed a Notification of Late Filing on Form 12b-25, stating it was unable to file the Form 10-K on time due to ongoing efforts to compile and analyze necessary financial information [3][4]. - The company is working diligently to complete its financial statements and plans to file the Form 10-K as soon as possible to regain compliance with Nasdaq listing rules [4]. Group 2: Company Overview - PetMed Express, Inc. is a pioneer in the direct-to-consumer pet healthcare sector, operating as a national online pharmacy licensed across all 50 states [5]. - The company offers a comprehensive range of pet health solutions, including pharmaceuticals, compounded medications, and OTC supplements, focusing on value, convenience, and care for pet wellness [5].

Core Viewpoint - Block & Leviton is investigating PetMed Express, Inc. for potential securities law violations following a delayed 10-K filing and internal investigations into revenue recognition [2][4]. Group 1: Investigation Details - The investigation is prompted by concerns related to a Q4 promotional campaign and internal accounting controls [2]. - Block & Leviton may file an action to recover losses on behalf of investors who have lost money in PetMed Express [4]. Group 2: Eligibility and Contact Information - Any investor who purchased PetMed Express common stock and experienced a decline in share value may be eligible to participate in the investigation [3]. - Investors are encouraged to contact Block & Leviton for more information via their case website, email, or phone [5]. Group 3: Whistleblower Information - Individuals with non-public information about PetMed Express are encouraged to assist in the investigation or report to the SEC under the whistleblower program, potentially receiving rewards of up to 30% of any successful recovery [6]. Group 4: Firm Reputation - Block & Leviton is recognized as a leading securities class action firm, having recovered billions for defrauded investors and representing many top institutional investors [7].

Core Viewpoint - PetMed Express, Inc. is currently unable to file its Form 10-K for the fiscal year ended March 31, 2025, due to ongoing investigations related to revenue recognition and customer complaints, but does not expect a material impact on its preliminary financial results [2]. Company Update - The Company filed a Form 12b-25 on June 16, 2025, indicating it would not meet the deadline for the 2025 Form 10-K filing [2]. - The Audit Committee is investigating anonymous reports regarding revenue recognition timing for autoship orders, a $50 coupon promotion, and the Company's culture and control environment [2]. - External legal counsel has been engaged for the investigation, which is ongoing with no conclusions reached yet [2]. - Despite the investigation, the Company believes it will not materially affect its previously announced preliminary financial results for the fourth quarter and fiscal year ended March 31, 2025 [2]. Company Background - PetMed Express, Inc. was founded in 1996 and is a pioneer in the direct-to-consumer pet healthcare sector [3]. - The Company operates as a national online pharmacy licensed across all 50 states, offering a range of pet health solutions including pharmaceuticals and OTC supplements [3]. - PetMeds aims to empower pet owners to enhance the health and wellness of their pets [3].