Page 36 - Covetrus Inc News Today : Breaking News, Live Updates & Top Stories | Vimarsana
Portland-based Covetrus reconfigures its international leadership
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By Catie Joyce Bulay
Over the past few years Maine has sent a clear message to the tech industry that it is open for business. With new companies moving to the state and older companies growing and expanding along with this year’s downtown Portland opening of the Roux Institute, Maine is poised to take on a leading role in technology.
The Roux Institute, part of Northeastern University’s graduate studies program focused on artificial intelligence, biotechnology, computer and data sciences and digital engineering, saw its first cohort of students last fall in space it shares with WEX Inc. Not only do they share a home but the Roux Institute has a partnership with the financial tech company along with a startup residency of its own that helps Maine-based tech companies grow and attracts new startup businesses from out-of-state.
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Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Covetrus, Inc. (NasdaqGS: CVET).
On August 13, 2019, the Company reported disappointing financial results, disclosing for the first time that its integration with Henry Schein Animal Health business and Vets First Choice had proven problematic, contrary to its prior assurances to investors. Then, on November 12, 2019, the Company disclosed a $939 million impairment charge against its “initial valuation at the time of the spin-off and acquisition in early February.”
The Company has been sued in a securities class action lawsuit for failing to disclose material information, violating federal securities laws, which remains ongoing.
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