Henry Schein to settle $38.5M proposed class-action lawsuit with Patterson & Benco

Dentists

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Henry Schein anticipates settling a proposed class-action litigation.

The settlement is subject to reaching a definitive agreement among all parties. As a result, Henry Schein expects to record a $38.5 million pre-tax charge on its third quarter 2018 financial results.

Patterson Companies and Benco Dental Supply Company, Henry Schein's co-defendants, also anticipate settling the lawsuit.

"We categorically and emphatically deny any wrongdoing, and we have made a business decision in the best interest of the company to engage in settlement discussions to avoid long, distracting litigation and the additional use of resources," said Henry Schein CEO and Chairman Stanley Bergman.

"We have a long history of serving customers with integrity and honesty, and we have earned our reputation for doing business ethically in a competitive business environment."

In a question and answer statement, Henry Schein said it expects the anticipated settlement to be finalized in the coming weeks.

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