Core Viewpoint - A securities fraud class action lawsuit has been filed against Petco Health and Wellness Company, Inc. for alleged misrepresentations regarding its ability to achieve sustainable and profitable growth [3]. Group 1: Lawsuit Details - The lawsuit was initiated in the United States District Court for the Southern District of California on behalf of investors who purchased Petco securities between January 14, 2021, and June 5, 2025 [3]. - The allegations include violations of the Securities Exchange Act of 1934 against the Company and certain senior officers [3]. Group 2: Legal Participation - Investors wishing to serve as lead plaintiffs must file necessary documents by August 29, 2025, although participation as a lead plaintiff is not required to share in any potential recovery [4]. - All legal representation is on a contingency fee basis, meaning shareholders incur no fees or expenses [4]. Group 3: Law Firm Background - Bernstein Liebhard LLP has recovered over $3.5 billion for clients since its inception in 1993 and has represented both individual investors and large public and private pension funds [5]. - The firm has been recognized multiple times for its success in litigating class actions, being named to The National Law Journal's "Plaintiffs' Hot List" thirteen times and listed in The Legal 500 for sixteen consecutive years [5].

Core Viewpoint - A class action lawsuit has been filed against Petco Health and Wellness Company, Inc. for alleged violations of securities laws, specifically regarding misleading statements made by the company during the class period from January 14, 2021, to June 5, 2025 [1][2]. Group 1: Lawsuit Details - The lawsuit claims that Petco overstated the impact of its differentiated products and downplayed challenges that negatively affected sales [2]. - The company is accused of misrepresenting its ability to achieve sustainable growth, leading to materially incorrect and misleading statements throughout the class period [2]. Group 2: Law Firm Information - DJS Law Group specializes in securities class actions and corporate governance litigation, focusing on enhancing investor returns through balanced counseling and aggressive advocacy [3]. - The firm represents some of the largest hedge funds and alternative asset managers, indicating a strong background in handling valuable litigation claims [3].

Core Viewpoint - Petco Health and Wellness Company, Inc. is facing allegations regarding the sustainability of its business model and the accuracy of its public statements, particularly related to its pandemic-driven growth and product strategy [2]. Group 1: Allegations and Class Action Details - The class period for the allegations against Petco spans from January 14, 2021, to June 5, 2025 [2]. - Allegations include that Petco's pandemic-related growth was unsustainable and that its premium pet food business model was overstated [2]. - Defendants are accused of downplaying the severity of issues affecting the company and overstating its ability to achieve sustainable, profitable growth [2]. Group 2: Shareholder Actions - Shareholders who purchased shares during the specified class period are encouraged to register for the class action by the deadline of August 29, 2025 [3]. - Once registered, shareholders will receive updates through a portfolio monitoring software regarding the case's progress [3]. - Participation in the case does not incur any costs or obligations for the shareholders [3]. Group 3: Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting investors' rights against deceit and fraud [4]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors affected by misleading statements [4].

Core Viewpoint - A class action lawsuit has been filed against Petco Health and Wellness Company, Inc. for misleading statements made during the Class Period from January 14, 2021, to June 5, 2025, potentially affecting investors' financial interests [1][5]. Group 1: Lawsuit Details - The lawsuit claims that Petco's pandemic-related business advantages were not sustainable and that the company's business model focused on premium pet food was overstated [5]. - Defendants allegedly failed to disclose the true extent of issues affecting Petco's business, including the necessary changes to address these issues and the negative impacts on comparable sales [5]. - The lawsuit asserts that public statements made by the defendants were materially false and misleading, leading to investor damages when the truth was revealed [5]. Group 2: Investor Participation - Investors who purchased Petco securities during the Class Period may be eligible for compensation without incurring out-of-pocket fees through a contingency fee arrangement [2]. - Interested investors can join the class action by submitting a form or contacting the law firm for more information [3][6]. - A lead plaintiff is needed to represent the class, and interested parties must file their motion by August 29, 2025 [1][3]. Group 3: Law Firm Credentials - The Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements, including the largest against a Chinese company at the time [4]. - The firm has consistently ranked highly in securities class action settlements and has recovered hundreds of millions for investors [4]. - Founding partner Laurence Rosen has received recognition for his contributions to the plaintiffs' bar, further establishing the firm's credibility [4].

Core Viewpoint - A class action lawsuit has been filed against Petco Health and Wellness Company, Inc. and certain officers for alleged violations of federal securities laws during the Class Period from January 14, 2021, to June 5, 2025, seeking damages for misleading statements regarding the company's business and financial performance [1][8]. Company Overview - Petco is a specialty retailer offering a variety of pet products and services, including consumable and non-consumable products, as well as in-store veterinary and grooming services [4]. - A key business metric for Petco is comparable sales, which measures the change in period-over-period net sales from physical locations and digital sites [4]. Financial Performance and Misrepresentation - Petco claimed to benefit from pandemic-related tailwinds, including increased pet adoption rates, and positioned itself as a health-focused pet company capitalizing on trends of "pet humanization" and "premiumization" [5]. - However, as these pandemic-related tailwinds diminished, Petco's sales and profitability metrics began to decline significantly, with a notable downturn in mid-2023 [6]. - Despite worsening financial conditions, Petco's management continued to affirm optimistic financial guidance for FY 2023, including adjusted EBITDA of $520 million to $540 million and adjusted EPS of $0.40 to $0.48 [7]. Class Action Allegations - The complaint alleges that Petco's management made materially false and misleading statements about the sustainability of its business model and the strength of its product strategy, which were overstated [8]. - Specific allegations include the unsustainability of pandemic-related tailwinds, downplaying the severity of issues affecting sales, and overstating the company's ability to deliver sustainable growth [8]. Recent Financial Disclosures - On August 24, 2023, Petco revised its FY 2023 adjusted EBITDA guidance down to $460 million to $480 million and adjusted EPS to $0.24 to $0.30, leading to a 20.64% drop in stock price [9][10]. - Further negative revisions were made on November 29, 2023, with adjusted EBITDA guidance lowered to approximately $400 million and adjusted EPS to approximately $0.08, resulting in a 28.91% decline in stock price [11][12]. - In March 2024, Petco reported a GAAP net loss of $1.3 billion and acknowledged that its premium product-focused business model was not sustainable [13]. Market Reaction - Following the negative financial disclosures, Petco's stock price experienced significant declines, including a drop to $2.06 per share after the March 2024 results [14]. - On June 5, 2025, Petco reported a 1.3% year-over-year decline in comparable sales, larger than Wall Street estimates, leading to a further 23.2% drop in stock price [17][18].

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Petco Health and Wellness Company, Inc. due to allegations of violations of federal securities laws, with a deadline for investors to seek lead plaintiff status in a class action lawsuit by August 29, 2025 [3][5]. Group 1: Legal Investigation and Class Action - The law firm is encouraging investors who suffered losses exceeding $100,000 in Petco between January 14, 2021, and June 5, 2025, to discuss their legal rights [1]. - A federal securities class action has been filed against Petco, and the firm is reminding investors of the deadline to seek the role of lead plaintiff [3][5]. - The complaint alleges that Petco and its executives made false and misleading statements regarding the sustainability of its business model and the strength of its product strategy [5]. Group 2: Financial Performance - On June 5, 2025, Petco reported net sales of $1.5 billion for the first quarter of 2025, reflecting a 2.3% year-over-year decline [6]. - Following the financial results announcement, Petco's stock price dropped by $0.85 per share, or 23.34%, closing at $2.78 per share on June 6, 2025 [6]. Group 3: Company Background - Faruqi & Faruqi, LLP is a national securities law firm with a history of recovering hundreds of millions of dollars for investors since its founding in 1995 [4].

Core Viewpoint - A class action lawsuit has been filed against Petco Health and Wellness Company, Inc. for allegedly misleading investors about its business prospects during the pandemic [1][2]. Group 1: Allegations - The lawsuit claims that Petco's pandemic-related growth was unsustainable and that its business model focused on premium pet food was overstated [2]. - It is alleged that the company downplayed the severity of issues affecting its business and the necessary changes to address these issues [2]. - The complaint states that Petco overstated its ability to achieve sustainable and profitable growth, leading to a decline in stock price when the truth was revealed [2]. Group 2: Class Action Participation - Investors who purchased Petco securities between January 14, 2021, and June 5, 2025, may be eligible to participate in the class action [1][3]. - Shareholders interested in serving as lead plaintiffs can contact the firm, but participation is not required to be eligible for recovery [3]. Group 3: Legal Representation - Robbins LLP operates on a contingency fee basis, meaning shareholders incur no fees or expenses unless the case is successful [4].

Core Viewpoint - Rosen Law Firm has filed a class action lawsuit on behalf of investors who purchased Petco Health and Wellness Company, Inc. securities between January 14, 2021, and June 5, 2025, alleging that the company made false and misleading statements regarding its business model and growth prospects [1][5]. Group 1: Lawsuit Details - The class action lawsuit claims that Petco's pandemic-related growth was unsustainable and that the company's business model, which focuses on premium pet food, was overstated [5]. - Defendants allegedly downplayed the severity of issues affecting Petco's business and overstated its ability to achieve sustainable, profitable growth [5]. - Investors are encouraged to join the class action, with no out-of-pocket fees through a contingency fee arrangement [2][3]. Group 2: Legal Representation - Rosen Law Firm emphasizes the importance of selecting qualified legal counsel with a successful track record in securities class actions [4]. - The firm has a history of significant recoveries for investors, including over $438 million in 2019 alone [4]. - Investors can join the class action by submitting a form or contacting the firm directly for more information [3][6].

Core Viewpoint - A class action lawsuit has been filed against Petco Health and Wellness Company, Inc. for misleading statements made during the Class Period from January 14, 2021, to June 5, 2025, potentially affecting investors' financial interests [1][5]. Group 1: Lawsuit Details - The lawsuit claims that Petco's pandemic-related growth was unsustainable and that the company's business model, which focuses on premium pet food, was overstated [5]. - Defendants allegedly failed to disclose the true scope of issues affecting Petco's business, including the necessary changes to address these issues and the negative impacts on comparable sales [5]. - The lawsuit asserts that public statements made by the defendants were materially false and misleading, leading to investor damages when the truth was revealed [5]. Group 2: Investor Participation - Investors who purchased Petco securities during the Class Period may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [2]. - To join the class action, investors can submit a form or contact the Rosen Law Firm for more information [3][6]. - A lead plaintiff is needed to represent the class, and interested parties must move the Court by August 29, 2025 [1][3]. Group 3: Rosen Law Firm Credentials - The Rosen Law Firm has a strong track record in securities class actions, having achieved significant settlements, including the largest against a Chinese company at the time [4]. - The firm has consistently ranked highly in securities class action settlements and has recovered hundreds of millions of dollars for investors [4]. - Founding partner Laurence Rosen has been recognized as a leading figure in the plaintiffs' bar, further establishing the firm's credibility [4].

NEW YORK, July 02, 2025 (GLOBE NEWSWIRE) -- Attorney Advertising-- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Petco Health and Wellness Company, Inc. (“Petco” or “the Company”) (NASDAQ: WOOF) and certain of its officers. Class Definition This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise ...