Patterson Securities Litigation
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This website has been established to provide general information related to the Patterson Securities Litigation.

This is a securities class action brought by Class Representatives Plymouth County Retirement System, Pembroke Pines Fund for Firefighters and Police Officers, Central Laborers Pension Plan, and Gwinnett County Public Employees Retirement System (collectively, "Class Representatives") alleging violations of the Securities Exchange Act of 1934 against Patterson Companies, Inc. (“Patterson”) and Scott Anderson (collectively, “Defendants”). Class Representatives allege that the misrepresentations and omissions caused Patterson shareholders to purchase their stock at artificially inflated prices and suffer damages when the truth of the scheme was revealed.  

On September 28, 2020, the District Court certified claims in this lawsuit for class action treatment to be pursued by the Class Representatives on behalf of all Class Members. The Class is defined as:

“All persons or entities who purchased or otherwise acquired Patterson Companies, Inc., common stock between June 26, 2013 and February 28, 2018, inclusive. Excluded from the Class by definition are (i) Defendants; (ii) the officers and directors of Patterson at all relevant times; (iii) members of the immediate family of each person noted above; (iv) the legal representatives, heirs, agents, affiliates, successors, or assigns of any such excluded party; (v) Defendants’ liability insurance carriers and any affiliates or subsidiaries thereof; and (vi) any entity in which Defendants or their immediate families have or had a controlling interest."

By certifying the Class, the District Court did not suggest that the Class Representatives will win or lose this case. The Class Representatives will attempt to prove their claims in proceedings that have not yet occurred.

If you or someone acting on your behalf purchased or otherwise acquired Patterson securities during the Class Period, you may be a “Class Member” entitled to participate in any benefits that may eventually be obtained for the Class as a result of this litigation.

Background and Description of the Litigation

This litigation is a securities class action alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 brought against Defendants. The case is presently pending in the United States District Court for the District of Minnesota before the Honorable Michael J. Davis.

The District Court has not determined that Defendants did anything wrong and this website is not an admission by Defendants or an expression of any opinion of the District Court concerning the merits of the litigation, or a finding by the Court that the claims asserted by the Class Representatives in this litigation are valid.

The Class Representatives allege that between 2013 and 2017 Defendants made statements in Patterson’s Form 10-K filings with the Securities and Exchange Commission regarding its compliance with antitrust laws and dealings with competitors that were false and misleading because Patterson had allegedly conspired with its chief competitors, Benco Dental Supply Company and Henry Schein, Inc., to prevent group purchasing organizations in the dental industry from entering the dental supply distribution market in violation of antitrust laws.

Defendants deny all of the claims asserted in the action and deny any liability to any members of the Class. Litigation is ongoing. No trial date has yet been set by the District Court.

Additional Information

Although the information on this website is intended to assist you, it does not replace the information contained in the Notice of Pendency of Class Action which can be found and downloaded on the Case Documents page of this website. We recommend that you read the Notice and other relevant case documents carefully. You may also wish to read the answers to Frequently Asked Questions provided on this website. If you have not received a Notice and would like to confirm that you are on the mailing list for further notice mailings in this matter, please contact the Notice Administrator and request that a Notice be sent to you at your current mailing address.

Important Dates and Deadlines

Request Exclusion August 18, 2021