Johnson Fistel Begins Investigation on Behalf of Petco Health and Wellness Company, Inc. Shareholders

SAN DIEGO, August 5, 2025 – Johnson Fistel, PLLP, a leading stockholder rights law firm, has initiated an investigation into the board members and executive officers of Petco Health and Wellness Company, Inc. (NASDAQ: WOOF) for potential breaches of fiduciary duties and violations of the federal securities laws.

Current stockholders who held their Petco stock before January 14, 2021, are encouraged to contact Johnson Fistel to discuss their legal rights in this matter. In certain cases, you may be able to pursue changes to the company’s corporate governance practices, seek the recovery of funds for the company, and request a court-approved incentive award, all at no cost to you.

What is Johnson Fistel Investigating?

A recently filed securities fraud class action complaint alleges that Petco, via six of its officers, made materially false and misleading statements regarding Petco’s business, operations, and prospects. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) Petco’s pandemic-related tailwinds were unsustainable, as was its business model of selling primarily premium and/or high-grade pet food; (ii) accordingly, the strength of Petco’s differentiated product strategy was overstated; (iii) Defendants downplayed the true scope and severity of the foregoing issues, the magnitude of changes needed to rectify those issues, and the likely negative impacts of their mitigation strategy on Petco’s comparable sales metric; (iv) accordingly, Defendants overstated Petco’s ability to deliver sustainable, profitable growth; and (v) as a result, Defendants’ public statements were materially false and misleading at all relevant times.