Class Action Filed Against PETCO Animal Supplies Inc. by the Law Firm of Schiffrin Craig & Barroway LLP.BALA CYNWYD Cynwyd is a small village in Denbighshire, Wales, about two miles south-west of the town of Corwen. It is home to a large factory, run by Ifor Williams Trailers. See also
A class action lawsuit class action lawsuit A lawsuit in which one party or a limited number of parties sue on behalf of a larger group to which the parties belong. For example, investors may bring a class action lawsuit against a brokerage firm that has actively promoted a tax was filed in the United States District Court for the Southern District of California The United States District Court for the Southern District of California is the federal district court whose jurisdiction comprises the following counties in California: Imperial and San Diego. on behalf of all persons who purchased the common stock of Petco Animal Supplies, Inc. ("PETCO") in the open market from Jan. 30, 1997 through Feb. 23, 1998, inclusive (the "Class Period"). The complaint charges PETCO (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : PETC PETC Pittsburgh Energy Technology Center (Department of Energy) PETC Pennsylvania Educational Technology Corporation PETC Animal in cabin (IATA codes) PETC Public Employers' Training Consortium ) and certain of its officers and directors with making false and misleading statements about the success and operating profitability of PETCO's business, including inflated forecasts of 25%-40% earnings per share growth for PETCO during fiscal years 1997 through 1999. On Feb. 23, 1998, PETCO revealed that its growth rate in fiscal 1998 would be much lower than earlier forecast and its fiscal 1998 earnings per share would be no more than $1.13-$1.15, far below the previously forecasted $1.40+ per share. PETCO also revealed its growth-by-acquisition program had failed and it would sharply curtail cur·tail tr.v. cur·tailed, cur·tail·ing, cur·tails To cut short or reduce. See Synonyms at shorten. [Middle English curtailen, to restrict its expansion. PETCO's stock fell to $17 1/2 on Feb. 23, 1998, on volume of 2.4 million shares and to $13 1/8 on Feb. 24, 1998, on 6.9 million shares volume. Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Schiffrin Craig & Barroway, LLP, who has significant experience and expertise prosecuting class actions on behalf of investors and shareholders. If you are a member of the class described above, you may, not later than Oct. 16, 1998, move the Court to serve as lead plaintiff of the class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Schiffrin Craig & Barroway LLP (Andrew L. Barroway, Esq.) toll free at 888/299-7706 or 610/ 667-7706, or via e-mail at classlaw@ix.netcom.com.
CONTACT: Schiffrin Craig & Barroway LLP
Andrew L. Barroway, Esq.
888/299-7706 or 610/667-7706
e-mail: classlaw@ix.netcom.com
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