Thieler Law Corp advises investors with losses exceeding $100,000 of the November 29, 2019 lead plaintiff deadline in a class action lawsuit filed against Covetrus Inc (NASDAQ: CVET) (“Covetrus” or “the Company”). The suit is pending in the U.S. District Court for the Eastern District of New York and investors, who purchased Covetrus Inc securities between February 8, 2019 and August 12, 2019, have until November 29, 2019 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Covetrus Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that it overstated  capabilities with regard to inventory management and supply chain services; understated the costs of the integration of Henry Schein’s Animal Health Business and VFC, including the timing and nature of those costs; understated Covetrus’ separation costs from Henry Schein; and understated the impact on earnings from online competition and alternative distribution channels as well as the impact of the loss of a large customer in North America just prior to the Company’s separation from Henry Schein; and as a result, Covetrus’ public statements were materially false and misleading at all relevant times.

On August 13, 2019, the Company stunned investors by reporting a net loss of $0.09 per share for the second quarter of 2019 compared to consensus analyst estimates of $0.17 in net income per share. In addition, the Company slashed its 2019 EBITDA guidance to just $200 million, down substantially from its prior EBITDA guidance of roughly $250 million issued in February and May 2019, only a few months prior. Furthermore, Covetrus admitted that the Company would have to spend tens of millions of dollars more in infrastructure spending and redundant costs. The Company also admitted previously undisclosed difficulties integrating the platforms and disclosed increased spending to eliminate obligations to Henry Schein as part of the spin-off agreement.

Following this news, the Company's stock price plummeted 40%, declining $9.30 per share, to close at $13.89 per share on August 13, 2019.

If you were negatively impacted by your investment in Covetrus Inc securities between February 8, 2019 and August 12, 2019 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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