Petco Health and Wellness pany(US:WOOF) Prnewswire·2025-08-14 12:45Core Viewpoint - Petco Health and Wellness Company, Inc. is facing allegations related to misleading statements about its business model and growth potential during the pandemic period, leading to a class action lawsuit [2]. Group 1: Allegations - The pandemic-related growth experienced by Petco was deemed unsustainable, questioning the viability of its premium pet food business model [2]. - The strength of Petco's differentiated product strategy was overstated, suggesting a lack of transparency regarding its actual performance [2]. - Defendants allegedly downplayed the severity of issues affecting the company, including the necessary changes to address these problems and the potential negative impacts on comparable sales [2]. - Public statements made by the defendants were claimed to be materially false and misleading throughout the relevant period [2]. Group 2: Class Action Details - The class period for the lawsuit is defined as January 14, 2021, to June 5, 2025, with a deadline for shareholders to register by August 29, 2025 [3]. - Shareholders who purchased shares during this period are encouraged to register for the class action, which includes portfolio monitoring for status updates [3]. - There is no cost or obligation for shareholders to participate in the case [3]. Group 3: Law Firm Information - The Gross Law Firm is a nationally recognized class action law firm focused on protecting investors' rights against deceit and illegal business practices [4]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors affected by misleading statements [4].