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

股东警报:Robbins公司提醒投资者,Covetrus公司。(CVeT)因作误导性陈述而被起诉

2020/02/11 23:42  Business Wire

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.

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

Covetrus, Inc. (CVET) Accused of Misleading Shareholders

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.

Covetrus, Inc. (CVET) Shareholders Have Legal Options

Contact us to learn more:

Leo Kandinov

(800) 350-6003

lkandinov@robbinsllp.com

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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.

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Contacts

Leo Kandinov

Robbins LLP

5040 Shoreham Place

San Diego, CA 92122

lkandinov@robbinsllp.com

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

www.robbinsllp.com

股东权益法公司Robbins LLPremines投资者认为是Covetrus公司的购买者。(纳斯达克市场代码:CVeT)就涉嫌在2019年2月8日至2019年8月12日期间违反1934年“证券交易法”的行为提起集体诉讼。Covetrus公司是一家动物卫生技术和服务公司。

如果您因Covetrus的不当行为而遭受损失,请单击此处。

科维特鲁斯公司(CVeT)被控误导股东

据诉状称,2018年4月23日,亨利·谢恩宣布分拆并合并亨利·谢因的动物健康业务和Vets First抉择(VFC)。Covetrus的股票于2019年2月8日开始交易。在整个课程期间,以及在为分拆合并提供的文件中,亨利·舍因强调了科夫特鲁斯的优势,并吹嘘科夫特鲁斯是一家具有全面服务和技术平台以及供应链基础设施的技术支持的动物健康企业。这些好处后来在Covetrus的财务报告中得到重申,该公司再次保证,整合将“走上正轨”,以实现财务目标。然而,在现实中,Covetrus的优势被夸大了,融合的成本以及将Covetrus和HenrySchein分离的成本远远高于所代表的成本。然后,2019年8月13日,Covetrus令人震惊地报告每股净亏损0.09美元,而不是每股0.17美元的预期增幅,并将其EBITDA指引从2.5亿美元下调至实际实现的2亿美元。在解释中,Covetrus承认了它在平台集成和与HenrySchein分离成本方面存在的未公开的困难。自这一消息传出以来,Covetrus的股价暴跌,每股下跌9.71美元,跌幅42%,目前股价约为13.50美元。

科维特鲁斯公司(CVeT)股东有合法的选择

欲了解更多信息,请与我们联系:

利奥·坎迪诺夫

(800) 350-6003

lkandinov@robbinsllp.com

股东信息表格

RobbinsLLP是全国公认的股东权益法领导者。该公司在股东衍生品诉讼和证券集体诉讼中代表个人和机构投资者,帮助其客户意识到自己和他们所投资的公司价值超过10亿美元。点击此处,当公司有不当行为时,可免费收到股票观察的警告。

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接触

利奥·坎迪诺夫

罗宾斯公司

5040 Shoreham Place

加州圣地亚哥,92122

lkandinov@robbinsllp.com

(619)525-3990或免费(800)350-6003

www.robbinsllp.com

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风险提示:上文所示之作者或者嘉宾的观点,都有其特定立场,投资决策需建立在独立思考之上。富途将竭力但却不能保证以上内容之准确和可靠,亦不会承担因任何不准确或遗漏而引起的任何损失或损害。