PetMed Express (PETS) Statement on Aurelius Value Short Report

PetMed Express (NASDAQ: PETS) issued the following statement to StreetInsider.com related to an earlier short report from Aurelius Value, which suggested the company is exploiting America's opioid epidemic.

"A false and defamatory “report” was published today by Aurelius Value. We believe that this “report” was intended to severely manipulate our stock price downward in support of short sellers. PetMed Express categorically denies the allegations and its implications. We are in the process of reporting this manipulation to the appropriate regulators. While the Company dispenses Tramadol and Gabapentin, it is done exclusively pursuant to valid prescriptions from veterinarians for the treatment of animals only. PetMed Express will defend itself vigorously against what it contends are these baseless allegations, and is also reviewing all legal options at its disposal to hold the author(s) of this article responsible for the baseless attack which has as of this press release, caused its stock to decrease substantially. Shareholders are cautioned against reacting to the false statements being made. Our financial statements have been and are routinely audited; and we reiterate that we stand behind the integrity of our financial statements and SEC filings."

Further, PetMed Express CFO Bruce Rosenbloom told StreetInsider the two medications in question require a script and are less than 5% of overall sales.

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