Lawsuit for Investors in shares of Petmed Express Inc(NASDAQ:PETS) filed

An investor in NASDAQ:PETS shares filed a lawsuit against Petmed Express Inc over alleged Securities Laws violations in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Petmed Express Inc(NASDAQ:PETS) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.

Delray Beach, FL based Petmed Express Inc(NASDAQ:PETS), doing business as 1800PetMeds, is a pet pharmacy. Petmed Express Inc reported that is Total Revenue rose from $234.68 million for the 12 months period that ended on March 31, 2016 to $249.18 million for the 12 months period that ended on March 31, 2017 and that its respective Net Income increased from $20.57 million to $23.82 million. Shares of Petmed Express Inc(NASDAQ:PETS) grew from $19.26 per share in March 2017 to as high as $50.54 per share in July 2017.

On August 23, 2017, Aurelius Value published a report alleging that the Company targets opioid users with Google ads and other marketing techniques to facilitate the abuse of opiates.

Shares of Petmed Express Inc(NASDAQ:PETS) declined to as low as $31.92 per share on August 23, 2017.

According to the complaint the plaintiff alleges on behalf of purchasers of Petmed Express Inc(NASDAQ:PETS) common shares between May 8, 2017, and August 23, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 8, 2017, and August 23, 2017, the Defendants failed to disclose that the Company was marketing dangerous and addictive animal drugs to humans, that, as such, the Company is vulnerable to potential civil or criminal liability, as well as other regulatory action, that, as a result of the foregoing, Google may halt the Company’s advertising activities,and that, as a result of the foregoing, Defendants’ statements about PetMed’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

Those who purchased shares of Petmed Express Inc(NASDAQ:PETS) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com