The Law Offices of Frank R. Cruz announces an investigation of PetMed Express, Inc. (“PetMed” or the “Company”) (NASDAQ: PETS) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On October 30, 2023, PetMed released its financial results for the second quarter of 2023, reporting net sales of $71 million, missing estimates by $5 million. Additionally, the Company disclosed that it “made a decision to suspend the quarterly dividend” to “invest the company's cash flow in projects and initiatives that we believe will yield higher returns.”
On this news, PetMed's stock price fell $2.29, or 24.9%, to close at $6.89 per share on October 31, 2023, thereby injuring investors.
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If you purchased PetMed securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20231108218000/en/
Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
