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Shareholder Alert: Robbins LLP Reminds Investors Covetrus, Inc. (CVET) Sued for Making Misleading Statements

Shareholder Alert: Robbins LLP Reminds Investors Covetrus, Inc. (CVET) Sued for Making Misleading Statements

股東警示:Robbins LLP提醒投資者Covetrus,Inc.(CVeT)因做出誤導性陳述而被起訴
Business Wire ·  2020/02/11 23:42

Shareholder rights law firmRobbins LLPreminds investors that a purchaser of Covetrus, Inc. (NASDAQ: CVET) filed a class action complaint for alleged violations of the Securities Exchange Act of 1934 between February 8, 2019 and August 12, 2019. Covetrus operates as an animal-health technology and services company.

股東權益法公司Robbins LLPreminds Investors表示,Covetrus,Inc.(納斯達克市場代碼:CVeT)的一名買家在2019年2月8日至2019年8月12日期間提起集體訴訟,指控其違反了1934年證券交易法。番荔枝屬(Covetrus)作為一家動物保健技術和服務公司運營。

If you suffered a loss as a result of Covetrus' misconduct,click here.

如果您因Covetrus的不當行為而蒙受損失,請單擊此處。

Covetrus, Inc. (CVET) Accused of Misleading Shareholders

Covetrus,Inc.被控誤導股東

According to the complaint, on April 23, 2018, Henry Schein announced the spin-off and merger of the Animal Health Business of Henry Schein with Vets First Choice ("VFC"). Covetrus shares began trading on February 8, 2019. Throughout the class period and in the Offering Documents for the spin-merger, Henry Schein highlighted Covetrus' strengths and touted Covetrus as a technology-enabled animal health business with a comprehensive service and technology platform and supply chain infrastructure. These benefits were reaffirmed later in Covetrus' financial reports and the Company reassured that the integration was "on track" to hit financial targets. However, in reality, Covetrus' strengths were overstated and the costs of the integration as well as the separation of Covetrus from Henry Schein had been much higher than represented. Then, on August 13, 2019, Covetrus shockingly reported a net loss of $0.09 per share rather than the expected increase of $0.17 per share and slashed its EBITDA guidance from estimates of $250 million to a realized $200 million. In its explanation, Covetrus confessed the undisclosed difficulties it was having in platform integration and separations costs from Henry Schein. Since this news, Covetrus' stock has plummeted with a decline of $9.71, or 42%, per share and currently trades at around $13.50.

起訴書稱,2018年4月23日,Henry Schein宣佈將Henry Schein的動物保健業務與獸醫First Choice(VFC)分拆合併。Covetrus股票於2019年2月8日開始交易。在整個課程期間和分拆合併的招股文件中,Henry Schein強調了Covetrus的優勢,並吹捧Covetrus是一家擁有全面服務和技術平台以及供應鏈基礎設施的科技型動物保健企業。這些好處後來在Covetrus的財務報告中得到了重申,該公司保證,整合正在“軌道上”實現財務目標。然而,在現實中,Covetrus的優勢被誇大了,而且Covetrus與Henry Schein的整合和分離的成本遠遠高於所表示的成本。然後,在2019年8月13日,Covetrus令人震驚地報告每股淨虧損0.09美元,而不是預期的每股增加0.17美元,並將EBITDA指引從預期的2.5億美元大幅下調至已實現的2億美元。在解釋中,Covetrus承認在平台集成和分離成本方面存在未披露的困難亨利·施恩(Henry Schein)。消息傳出後,Covetrus的股價暴跌,每股下跌9.71美元,跌幅42%,目前股價約為13.50美元。

Covetrus, Inc. (CVET) Shareholders Have Legal Options

Covetrus,Inc.(CVeT)股東擁有法律選擇權

Contact us to learn more:

聯繫我們瞭解更多信息:

Leo Kandinov

利奧·坎迪諾夫

(800) 350-6003

(800) 350-6003

lkandinov@robbinsllp.com

郵箱:lkandinov@robbinsllp.com

Shareholder Information Form

股東信息表

Robbins LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.Click Hereto receive free alerts from Stock Watch when companies engage in wrongdoing.

羅賓斯律師事務所(Robbins LLP)是全國公認的股東權利法領先者。該公司在股東衍生品和證券集體訴訟中代表個人和機構投資者,並幫助客户為自己和他們投資的公司實現了超過10億美元的價值。單擊此處可在公司從事不當行為時接收股票觀察的免費警報。

Attorney Advertising. Past results do not guarantee a similar outcome.

律師廣告。過去的結果並不能保證會有類似的結果。

View source version on businesswire.com:https://www.businesswire.com/news/home/20200211006113/en/

查看businesswire.com:https://www.businesswire.com/news/home/20200211006113/en/上的源代碼版本

Contacts

聯繫人

Leo Kandinov

利奧·坎迪諾夫

Robbins LLP

羅賓斯律師事務所

5040 Shoreham Place

肖勒姆廣場5040號

San Diego, CA 92122

聖地亞哥, 92122

lkandinov@robbinsllp.com

郵箱:lkandinov@robbinsllp.com

(619) 525-3990 or Toll Free (800) 350-6003

(619)525-3990或免費電話(800)350-6003

www.robbinsllp.com

Www.robbinsllp.com

譯文內容由第三人軟體翻譯。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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