Petco Health and Wellness pany(US:WOOF) Prnewswire·2025-07-01 20:38Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Petco Health and Wellness Company, Inc. due to allegations of violations of federal securities laws, particularly concerning misleading statements about the sustainability of its business model and financial performance [2][4]. Group 1: Legal Investigation and Class Action - Faruqi & Faruqi is encouraging investors who suffered losses exceeding $75,000 in Petco between January 14, 2021, and June 5, 2025, to discuss their legal options [1]. - There is an August 29, 2025, deadline for investors to seek the role of lead plaintiff in a federal securities class action against Petco [2]. - The firm has a history of recovering hundreds of millions of dollars for investors since its founding in 1995 [3]. Group 2: Allegations Against Petco - The complaint alleges that Petco and its executives made false and misleading statements regarding the sustainability of its pandemic-related growth and the viability of its premium pet food business model [4]. - It is claimed that the company overstated its ability to deliver sustainable, profitable growth and downplayed the severity of operational issues [4]. Group 3: 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 [5]. - 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 [5].