San Diego, CA -- (SBWire) -- 01/10/2024 --PetMed Express, Inc. is under investigation over potential securities laws violations in connection with certain financial 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.
The investigation by a law firm focuses on whether a series of statements by PetMed Express, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Delray Beach, FL based PetMed Express, Inc., together with its subsidiaries, operates as a pet pharmacy in the United States. PetMed Express, Inc. reported that its Total Revenue declined from $273.41 million in 2022 to $256.85 million in 2023 and that its Net Income declined from $21.1 million in 2021 to $0.233 million in 2023.
On October 30, 2023, PetMed Express, Inc. announced its Q2 2023 results, reporting, among other things, that dividends will be suspended for the Company to invest in projects and initiatives that can give better returns. Previously, PetMed has declared a $0.30 per share dividend for 10 consecutive quarters. In addition, the Company reported net sales of $71M, missing estimates by $5M.
Shares of PetMed Express, Inc. (NASDAQ: PETS) declined from $22.64 per share in February 2023 to as low as $5.50 per share on October 31, 2023.
Those who purchased shares of PetMed Express, Inc. (NASDAQ: PETS) have certain options and should contact the Shareholders Foundation.
About The Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Contact:
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Phone: +1-(858)-779-1554
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mail@shareholdersfoundation.com
NASDAQ: PETS Shareholder Alert: Investigation over Possible Securities Laws Violations by PetMed Express, Inc.
An investigation for investors in PetMed Express, Inc. (NASDAQ: PETS) shares over potential securities laws violations by PetMed Express, Inc. was announced.