Patterson Should Face Price-Fixing Securities Suit: Magistrate

Patterson Cos. investors should get to proceed with their securities lawsuit accusing the dental supplies giant of inflating its market value by concealing a nationwide price-fixing scheme, a magistrate judge ruled.

But the claims against several Patterson executives shouldn’t move forward, except those against ex-CEO Scott P. Anderson, who was directly implicated in allegedly misleading shareholders, the magistrate said.

The proposed class action against Patterson, Anderson, and three other executives alleges a conspiracy among Patterson and its top two rivals, Henry Schein Inc. and Benco Dental Supply Co. It was filed by a municipal pension fund in the U.S. District ...