Johnson Fistel Begins Investigation on Behalf of Petco Health and Wellness Company, Inc. Long-Term Shareholders

Core Viewpoint - Johnson Fistel, PLLP has initiated an investigation into Petco Health and Wellness Company, Inc. for potential breaches of fiduciary duties and violations of federal securities laws [1][2] Group 1: Investigation Details - The investigation follows a recently filed securities fraud class action complaint alleging that six of Petco's officers made materially false and misleading statements regarding the company's business and operations [2] - Specific allegations include that Petco's pandemic-related growth was unsustainable and that the company's business model focused on premium pet food was overstated [2] - The complaint claims that the defendants downplayed the severity of issues affecting Petco's business and overstated the company's ability to achieve sustainable, profitable growth [2] Group 2: Shareholder Rights - Current stockholders who held Petco stock before January 14, 2021, are encouraged to contact Johnson Fistel to discuss their legal rights, which may include pursuing changes to corporate governance practices and seeking recovery of funds [3] - The investigation may allow shareholders to request a court-approved incentive award at no cost [3] Group 3: About Johnson Fistel - Johnson Fistel, PLLP is a nationally recognized shareholder rights law firm with multiple offices across the United States, representing individual and institutional investors in derivative and class action lawsuits [4]