Investigation announced for Investors in Petco Health and Wellness Company, Inc. (NASDAQ: WOOF)

An investigation was announced for current long-term investors in shares of Petco Health and Wellness Company, Inc. (NASDAQ: WOOF) concerning potential breaches of fiduciary duties by certain directors of Petco Health and Wellness Company, Inc.

Investors who are current long term investors in Petco Health and Wellness Company, Inc. (NASDAQ: WOOF) shares, 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 for current long term investors in NASDAQ: WOOF stocks follows a lawsuit filed against Petco Health and Wellness Company, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: WOOF stocks, concerns whether certain Petco Health and Wellness Company, Inc. directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Southern District of California the plaintiff alleges that, the Defendants made false and/or misleading statements and/or failed to disclose that Petco's pandemic-related tailwinds were unsustainable, as was its business model of selling primarily premium and/or high-grade pet food, that accordingly, the strength of Petco's differentiated product strategy was overstated, that Defendants downplayed the true scope and severity of the foregoing issues, the magnitude of changes needed to rectify those issues, and the likely negative impacts of their mitigation strategy on Petco's comparable sales metric, that accordingly, Defendants overstated Petco's ability to deliver sustainable, profitable growth, and that as a result, Defendants' public statements were materially false and misleading at all relevant times.

Those who purchased shares of Petco Health and Wellness Company, Inc. (NASDAQ: WOOF) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, 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, investigations, and/or settlements are not filed/initiated/reached and/or are not 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.

This release was published on openPR.