5/12/2023 0 Comments Class actio lawsuits april 2018![]() On June 22, 2018, Magistrate Judge Vera M. The disclosure of the FTC complaint caused the price of Henry Schein stock to decline from approximately 7%, to $67.39 per share. The FTC’s complaint detailed communications between executives of Henry Schein and its conspirators evidencing the agreement, as well as attempts to monitor and ensure compliance with the agreement. On February 12, 2018, the Federal Trade Commission (“FTC”) announced that it filed a complaint against Henry Schein and two of the nation’s other largest distributors of dental products alleging violations of the U.S. The Claim Filing deadline was September 2, 2020. Excluded from the Class are certain persons and entities who are excluded by definition (see paragraph 23 of the Notice) or who requested exclusion pursuant to the instructions set forth in the Notice.Ĭlaim Filing Deadline. ![]() The Class consists of:Īll persons and entities who purchased or otherwise acquired Schein common stock during the period from Mathrough February 12, 2018, inclusive (the “Class Period”) and who were damaged thereby. If you are a member of the Class, your rights will be affected and you may be eligible for a payment from the Settlement. Following the hearing, the Court entered an Order approving the Settlement, the proposed Plan of Allocation, and the attorneys’ fees and litigation expenses, and a final Judgment. On September 16, 2020, the Court held a hearing on approval of the Settlement and related matters and announced that it would approve the Settlement. The Court-appointed Lead Plaintiff Miami General Employees’ & Sanitation Employees’ Retirement Trust (“Lead Plaintiff”), on behalf of itself and the Class, has settled the action the Action for $35,000,000 in cash, resolving all claims in the Action (the “Settlement”). Lead Plaintiff Has Settled The Action for $35 Million Defendants have denied those allegations. Lead Plaintiff also alleged that, as a result of these lawsuits, Schein ceased to engage in the allegedly collusive behavior and that the cessation adversely affected the Company’s publicly reported financial results. Lead Plaintiff alleges that these misstatements inflated the price of Schein’s common stock during the Class Period and that the price declined when several private collusion lawsuits and a Federal Trade Commission action revealed to investors that Defendants had allegedly sought to reduce competition by entering into agreements to refuse to provide discounts to or compete for the business of groups of independent dentists, rather than compete based on price. In this action, Lead Plaintiff alleges that Defendants made false and misleading statements and material omissions about Schein’s North American Dental business, including the operation of that business in a competitive environment and the sources of the dental business’s financial success. Henry Schein, based in Melville, New York, is one of the largest distributors of dental supplies and equipment in the United States. (“Henry Schein” or the “Company”) from Mathrough February 12, 2018, inclusive (the “Class Period”). This is a securities fraud class action filed on behalf of a class of all persons and entities who purchased or otherwise acquired common stock of Henry Schein, Inc. Please note the Claim Form is no longer available.
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