Patterson Companies Denies Allegations Contained in FTC Administrative Complaint
February 13 2018 - 9:28AM
Business Wire
Patterson Believes Complaint Is Without Merit
And Intends to Vigorously Defend Itself
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 clients.
About Patterson Companies, Inc.
Patterson Companies, Inc. (Nasdaq: PDCO) is a value-added
distributor serving the dental and animal health markets.
Dental MarketPatterson’s Dental
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
North America.
Animal Health MarketPatterson’s
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20180213005943/en/
Patterson Companies Inc.Bria Townshend,
612-437-0626Corporate
Communicationsbria.townshend@pattersoncompanies.comORJohn
M. Wright, 651-686-1364Investor
Relationsjohn.wright@pattersoncompanies.com
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