Covetrus, Inc.

Case Details

Class Period: February 8, 2019 - August 12, 2019
Date Filed: Sep 30, 2019
Case Number: 2:19-cv-5530
Jurisdiction: New York Eastern District

Case Summary

Covetrus was formed through a spin-off and merger of the Animal Health Business of Henry Schein with Vets First Choice (“VFC”), a privately-held company, to create what the Company described to investors as the “only global animal health technology and services company.”

In the offering documents for the spin-merger and throughout the Class Period, Defendants made a series of false and misleading statements and omissions concerning the newly combined companies’ infrastructure and capabilities, as well as the true costs of becoming independent from Henry Schein.  After the merger, Defendants assured investors that the integration of the legacy Henry Schein Animal Health Business and VFC was “on track” to hit financial targets.