{"id":865716,"date":"2025-07-01T12:01:57","date_gmt":"2025-07-01T16:01:57","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-petco-health-and-wellness-company-inc-woof\/"},"modified":"2025-07-01T12:01:57","modified_gmt":"2025-07-01T16:01:57","slug":"gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-petco-health-and-wellness-company-inc-woof","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-petco-health-and-wellness-company-inc-woof\/","title":{"rendered":"Gainey McKenna &amp; Egleston Announces A Class\u00a0Action Lawsuit Has Been Filed Against\u00a0Petco Health and Wellness Company, Inc. (WOOF)"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">NEW YORK, July  01, 2025  (GLOBE NEWSWIRE) &#8212; Gainey McKenna &amp; Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of California on behalf of all persons or entities who purchased or otherwise acquired Petco Health and Wellness Company, Inc. (\u201cPetco\u201d or the \u201cCompany\u201d) (NASDAQ: WOOF) securities between January 14, 2021 and June 5, 2025, both dates inclusive (the \u201cClass Period\u201d).<\/p>\n<p align=\"justify\">The Complaint alleges that Defendants made false and\/or misleading statements and\/or failed to disclose that: (i) Petco\u2019s pandemic-related tailwinds were unsustainable, as was its business model of selling primarily premium and\/or high-grade pet food; (ii) accordingly, the strength of Petco\u2019s differentiated product strategy was overstated; (iii) Defendants downplayed the true scope and severity of the foregoing issues, the magnitude of changes needed to rectify those issues, and the likely negative impacts of their mitigation strategy on Petco\u2019s comparable sales metric; (iv) accordingly, Defendants overstated Petco\u2019s ability to deliver sustainable, profitable growth; and (v) as a result, Defendants\u2019 public statements were materially false and misleading at all relevant times.<\/p>\n<p align=\"justify\">On August 24, 2023, Petco issued a press release announcing its financial results for the second quarter of its FY 2023. Therein, the Company negatively revised its FY 2023 adjusted EBITDA guidance to a range of $460 million to $480 million\u2014down significantly from its prior guidance of $520 million to $540 million\u2014and adjusted EPS guidance to a range of $0.24 to $0.30\u2014down significantly from its prior guidance of $0.40 to $0.48. In explaining the negatively revised guidance, Company management cited a \u201cshift in consumer spending and pressures on our discretionary business[.]\u201d<\/p>\n<p align=\"justify\">On this news, Petco\u2019s stock price fell $1.35 per share, or 20.64%, to close at $5.19 per share on August 24, 2023.<\/p>\n<p align=\"justify\">Investors who purchased or otherwise acquired shares of Petco should contact the Firm prior to the <strong><em>August 29, 2025<\/em><\/strong> lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna &amp; Egleston at (212) 983-1300, or via e-mail at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=R9yGRkNXAQIUa4Sc-DET0kJq4fE6W8wPCE_5OPhHlExvtK7FPTY5jiNztEqjolNVW91MSWkrVRnlGA386m3uhV32opKn9qqB6uZuOdEID0k=\" rel=\"nofollow\" target=\"_blank\"><u>tjmckenna@gme-law.com<\/u><\/a> or <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=1XqEHBQ60IDCPCefvrlnzz8__f0Y84Wgn1AX5FGdlLqzdC4YzkrIsl6mQSTevDC6udtO8qYfnHOvORA4CAzrQ1CpC8qibgeJ-NtkaeluU_s=\" rel=\"nofollow\" target=\"_blank\"><u>gegleston@gme-law.com<\/u><\/a>.<\/p>\n<p align=\"justify\">Please visit our website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=Bq1Z08jYEHhsvi2sEguq1oy38pMZOpNnsu2D1zOk20LzuKvVp-Ec6BneWRheNACQXSUtdi1g2-z3-JGxOu3aKQ0UQmd912o8vFytI8xGPHA=\" rel=\"nofollow\" target=\"_blank\"><u>http:\/\/www.gme-law.com<\/u><\/a> for more information about the firm.<\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTQ4NzY3NiM3MDI3NjEwIzIwMTc3MDQ=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/YmQ0MDJmMWUtNmU5Ny00OWIxLWE3OTktYTc2ODQ3YzJiYzIyLTEwMjkyNzQtMjAyNS0wNy0wMS1lbg==\/tiny\/Gainey-McKenna-Egleston.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK, July 01, 2025 (GLOBE NEWSWIRE) &#8212; Gainey McKenna &amp; Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of California on behalf of all persons or entities who purchased or otherwise acquired Petco Health and Wellness Company, Inc. (\u201cPetco\u201d or the \u201cCompany\u201d) (NASDAQ: WOOF) securities between January 14, 2021 and June 5, 2025, both dates inclusive (the \u201cClass Period\u201d). The Complaint alleges that Defendants made false and\/or misleading statements and\/or failed to disclose that: (i) Petco\u2019s pandemic-related tailwinds were unsustainable, as was its business model of selling primarily premium and\/or high-grade pet food; (ii) accordingly, the strength of Petco\u2019s differentiated product strategy was overstated; (iii) Defendants &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-petco-health-and-wellness-company-inc-woof\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gainey McKenna &amp; Egleston Announces A Class\u00a0Action Lawsuit Has Been Filed Against\u00a0Petco Health and Wellness Company, Inc. (WOOF)&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-865716","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gainey McKenna &amp; Egleston Announces A Class\u00a0Action Lawsuit Has Been Filed Against\u00a0Petco Health and Wellness Company, Inc. (WOOF) - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-petco-health-and-wellness-company-inc-woof\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gainey McKenna &amp; Egleston Announces A Class\u00a0Action Lawsuit Has Been Filed Against\u00a0Petco Health and Wellness Company, Inc. (WOOF) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, July 01, 2025 (GLOBE NEWSWIRE) &#8212; Gainey McKenna &amp; Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of California on behalf of all persons or entities who purchased or otherwise acquired Petco Health and Wellness Company, Inc. (\u201cPetco\u201d or the \u201cCompany\u201d) (NASDAQ: WOOF) securities between January 14, 2021 and June 5, 2025, both dates inclusive (the \u201cClass Period\u201d). The Complaint alleges that Defendants made false and\/or misleading statements and\/or failed to disclose that: (i) Petco\u2019s pandemic-related tailwinds were unsustainable, as was its business model of selling primarily premium and\/or high-grade pet food; (ii) accordingly, the strength of Petco\u2019s differentiated product strategy was overstated; (iii) Defendants &hellip; Continue reading &quot;Gainey McKenna &amp; Egleston Announces A Class\u00a0Action Lawsuit Has Been Filed Against\u00a0Petco Health and Wellness Company, Inc. 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