Zoetis Investor Sues Over Dog Medicines’ Market Competitiveness

Zoetis Inc. misled investors about the animal healthcare company’s market potential for its companion pet business while downplaying safety concerns over core products and rising competition, a proposed class action said.

The truth about the realized threat of competition came out over a series of financial disclosures, according to the complaint filed Wednesday in the US District Court for the Southern District of New York.

Zoetis’ stock price plummeted 21.5% to close at $87.31 on May 7, the day it released underwhelming financial results and slashed its full-year forecast. That was the Pfizer Inc. spinoff’s sharpest one-day stock drop on ...