COMPANY |
Henry Schein, Inc. |
COURT |
United States District Court for the Eastern District of New York |
CASE NUMBER |
18-cv-01428 |
JUDGE |
The Honorable Margo K. Brodie |
CLASS PERIOD |
March 7, 2013 through February 12, 2018 |
SECURITY TYPE |
Common Stock |
Case Background:
On March 7, 2018, the initial complaint in this securities class action was filed against Henry Schein, Inc. (“Schein” or the “Company”), and certain Schein executives, asserting violations of sections 10(b) and 20(a) of the Securities Exchange Act. The Complaint alleged that defendants made materially false and misleading statements during the Class Period about: (i) the competitive environment of Schein’s North American Dental business; (ii) Schein’s business dealings with dental buying groups; (iii) Schein’s financial results; and (iv) the sources of Schein’s financial success. The Complaint also alleged that Schein failed to disclose material information required to be disclosed by Item 303 of Regulation S-K (17 C.F.R. §229.303). The Complaint further alleged that the price of Schein’s common stock was artificially inflated during the Class Period as a result of defendants’ allegedly false and misleading statements and omissions, and declined when the truth was revealed in three partial corrective disclosures in August and November 2017 and in February 2018.
This securities class action lawsuit was brought on behalf of all persons and entities who purchased or otherwise acquired Schein common stock during the period from March 7, 2013 through February 12, 2018, inclusive and who were damaged thereby.
Current Status of Case:
On September 14, 2018, Plaintiffs filed an amended complaint (the “Amended Complaint”). On February 22, 2019, Defendants filed a Motion to Dismiss the Amended Complaint. On September 27, 2019, The Court granted in part and denied in part Defendant’s Motion to Dismiss. On February 4 and 5, 2020, the parties engaged in two mediation sessions. During the mediation sessions, the parties engaged in settlement negotiations and reached an agreement to settle the action for $35,000,000. The Court approved the Settlement on September 16, 2020. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.