VCA Antech (WOOF) Stock Fraud
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In conjunction with our partner lawyers, we are currently investigating claims for VCA Antech shareholders who purchased shares of VCA Antech and lost money on their investment as a result of the Company's recent announcements.
Our Experienced Stock Fraud Lawyers and Attorneys Have Years of Experience Representing Shareholders in Numerous Stock Fraud Cases.
Our investigation revolves around whether VCA Antech and certain of the Company's officers and directors made a series of materially false and misleading statements related to the Company's business and operations in violation of the Securities Exchange Act of 1934 (the ``Exchange Act''). Recent corrective disclosures have caused the price of shares of VCA Antech to fall precipitously.
VCA Antech Inc owns, operates and manages the largest networks of freestanding veterinary hospitals and veterinary-exclusive clinical laboratories in the country, and they supply diagnostic imaging equipment to the veterinary industry. VCA Antech experienced a sharp decline on February 5, 2008, as shares took a plunge to $32.13 or 18.66% on volume of over 9.3 million at the closing bell.
The fall came after VCA Antech warned that economic concerns in the previous quarter dampened revenue growth at its clinics, laboratories and imaging services. The company also blamed the timing of the New Years and Christmas holidays, as well as the California wildfires as the reasons behind VCA Antech's poor fourth quarter showing. But at least one financial writer for the Motley Fool.com was skeptical that these factors were the reasons behind VCA Antech's troubles, and went so far as to term the reasons "excuses".
In the fourth quarter of 2007, net income grew 27 percent to $24.6 million (29 cents a share), in line with analyst estimates, but the company’s 17 percent growth in revenues to $284.2 million fell below expectations. More troubling was the company’s project earnings per share range for 2008 of $1.55 to $1.60 per share, which was below the consensus of $1.63. And the company narrowed the range of sales expectations.
If you are a VCA Antech shareholder who purchased or acquired shares between July 26, 2007 and February 4, 2008, you have valuable legal rights. Please contact one of the VCA Antech, Inc. stock fraud lawyers at our firm by filling out our online form or calling 1-800-LAW INFO (1-800-529-4636).