NEW YORK, June 14, 2024 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of PetMed Express, Inc. (“PetMed” or the “Company”) (NASDAQ: PETS). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether PetMed and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On June 11, 2024, PetMed issued a press release announcing its financial results for its fourth quarter and fiscal year 2024. Among other items, PetMed reported a net loss per share of $0.25, compared to a net loss per share of $0.01 in the year-ago period. Although PetMed reported a net increase in sales year over year, that was outweighed by an increase in overall operating expenses. PetMed had approximately $55.3 million in cash at the end of fiscal year 2024, compared to approximately $104.1 million at the end of fiscal year 2023.
On this news, PetMed’s stock price fell $0.54 per share, or 11.46%, to close at $4.17 per share on June 12, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
