A class action lawsuit has been filed against Petco Health and Wellness Company Inc., headquartered in San Diego, CA, alleging securities fraud. The lawsuit claims that Petco made materially false and misleading statements about its pandemic-driven growth and the sustainability of its premium pet food business model. Investors experienced significant losses as the company's stock price dropped sharply, notably by over 20% on August 24, 2023, following a downward revision of its financial outlook. The complaint also highlights issues related to Petco's shift towards "value" pet food brands and multiple executive departures, suggesting deeper operational challenges. Investors who purchased Petco stock between January 14, 2021, and June 5, 2025, may seek lead plaintiff status by August 29, 2025.
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