Patterson Believes Complaint Is Without Merit And Intends to
Vigorously Defend Itself
ST. PAUL, Minn. -- (Business Wire)
Patterson Companies, Inc. (Nasdaq: PDCO) today announced that the
Federal Trade Commission (FTC) has issued an administrative complaint
against Patterson alleging an agreement with its competitors not to sell
to “buying groups” in violation of federal antitrust laws.
The Company believes that the allegations as described are meritless and
intends to defend itself vigorously. The complaint seeks injunctive
relief and does not seek monetary damages. The Company does not
anticipate that this matter will have a material adverse effect on our
financial condition or results of operations.
Patterson maintains the highest levels of integrity and ethical
standards and has a 140 year history of partnering with all types of
customers to grow their businesses and provide outstanding care to their
About Patterson Companies, Inc.
Patterson Companies, Inc. (Nasdaq: PDCO) is a value-added distributor
serving the dental and animal health markets.
segment provides a virtually complete range of consumable dental
products, equipment and software, turnkey digital solutions and
value-added services to dentists and dental laboratories throughout
Animal Health Market
Animal Health segment is a leading distributor of products, services and
technologies to both the production and companion animal health markets
in North America and the U.K.
This press release contains certain forward-looking statements, as
defined in the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are information of a non-historical nature
and are subject to risks and uncertainties that are beyond Patterson’s
ability to control. Forward-looking statements generally can be
identified by words such as “believes,” “expects,” “anticipates,”
“foresees,” “forecasts,” “estimates” or other words or phrases of
similar import. It is uncertain whether any of the events anticipated by
the forward-looking statements will transpire or occur, or if any of
them do, what impact they will have on the results of operations and
financial condition of Patterson or the price of Patterson stock. These
forward-looking statements involve certain risks and uncertainties that
could cause actual results to differ materially from those indicated in
such forward-looking statements. Such risks and uncertainties include,
without limitation, operations disruptions attributable to our
enterprise resource planning system implementation; our ability to
attract or retain qualified sales representatives and service
technicians who relate directly with our customers; the reduction,
modification, cancellation or delay of purchases of innovative,
high-margin equipment; material changes in our purchasing relationships
with suppliers; changes in general market and economics conditions; and
the other risks and important factors contained and identified in
Patterson’s filings with the Securities and Exchange Commission, such as
its Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K, any
of which could cause actual results to differ materially from the
forward-looking statements. Any forward-looking statement in this press
release speaks only as of the date on which it is made. Except to the
extent required under the federal securities laws, Patterson does not
intend to update or revise the forward-looking statements.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180213005943/en/
Patterson Companies Inc.
Bria Townshend, 612-437-0626
M. Wright, 651-686-1364
Source: Patterson Companies Inc.
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