Patterson Companies denies allegations in FTC administrative complaint
Patterson Companies announced that the Federal Trade Commission 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. Patterson said, "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."