PHILADELPHIA, Feb. 13, 2018 /PRNewswire/ -- Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of purchasers of the securities of Patterson Companies, Inc. ("Patterson Companies" or "PDCO") (NASDAQ: PDCO) resulting from allegations that the Patterson Companies and certain other PDCO executives may have issued materially misleading business information to the investing public.
On February 12, 2018, the FTC announced that it filed a complaint against the nation's three largest dental supply companies -- Benco Dental Supply Company, Henry Schein, Inc., and Patterson Companies -- alleging that they violated United States antitrust laws by conspiring to refuse to provide discounts to or otherwise serve buying groups representing dental practitioners. These buying groups sought lower prices for dental supplies and equipment on behalf of solo and small-group dental practices seeking to gain discounts by aggregating and leveraging the collective purchasing power and bargaining skills of the individual practices.
Based on the agreement among the distributors, the FTC's complaint contends that Benco, Henry Schein, and Patterson Companies unreasonably restrained price competition for dental products in the United States; distorted prices and undermined the ability of independent dentists to obtain lower prices and discounts for dental products; deprived independent dentists of the benefits of vigorous price and service competition among full-service, national dental distributors; unreasonably reduced output of dental products to dental buying groups; and eliminated or reduced the competitive bidding process for sales to these buying groups.
On this news, the share price of Patterson Companies declined more than 9.5% in pre-market trading on February 13, 2018 down to $29.79 from a February 12, 2018 closing price of $32.92.
Patterson Companies Investors: If you purchased shares of the Patterson Companies and have questions or concerns about the securities investigation or your potential legal rights, please visit https://kehoelawfirm.com/active-investigations/patterson-companies-pdco-alert or contact John A. Kehoe, Esq., (215) 792-6676, Ext. 801, firstname.lastname@example.org or e-mail email@example.com.
Kehoe Law Firm, P.C. is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors and consumers from corporate fraud, negligence, and other wrongdoing.
CONTACT: John A. Kehoe, Esq., Kehoe Law Firm, P.C.
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SOURCE Kehoe Law Firm, P.C.