Petsmart 2000 Annual Report Download - page 19

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summary judgment on Plaintiffs claim that four in- store management positions were improperly classified as
exempt under FLSA. These motions were denied. On or about July 30, 1999, Plaintiffs filed a motion seeking
Class Certification and C ourt- Supervised N otice to Potential Collective Action Members. The C ourt denied this
motion on September 28, 1999. The Court ordered the parties to participate in a mediation on December 15,
1999, during which the parties reached a settlement. In January 2000, the lawsuit was dismissed with prejudice.
In December 1996, Richard Northcott, the former chairman of Pet City Holdings plc, became a member of
the Company’ s Board of Directors in connection with the Company’ s acquisition of Pet City. Certain former Pet
City affiliates thereafter retained counsel in the United States and made allegations claiming that the C ompany had
misled the shareholders of Pet City at the time of acquisition concerning the Company’ s business, finances and
prospects. On September 30, 1997, shortly after the receipt of the allegations by the Company, Mr. Northcott
resigned as a director of the Company. No litigation has been filed with respect to this matter, and the Company
believes that the allegations, which have been made, are without merit. Nevertheless, there can be no assurance
that these former affiliates will not initiate litigation seeking monetary damages or an equitable remedy. A
mediation has been scheduled to occur on May 3, 2000.
Item 4. Submission of Matters to a Vote of Security Holders
No matters were submitted to a vote of the Company’ s security holders during the fourth quarter of the fiscal
year ended January 30, 2000.
PART II
Item 5. Market for the Registrant’s Common Stock and Related Shareholder Matters
Price Range of Common Stock and Dividend Policy. The Company’ s Common Stock is traded on the
Nasdaq Stock Market under the symbol “PETM.” The following table sets forth for the periods indicated the
high and low price per share of the common stock on the Nasdaq Stock Market. These prices represent
quotations among dealers without adjustments for retail mark-ups, mark-downs or commissions, and may not
represent actual transactions.
Fis cal Year Ended January 31, 1999 High Low
First Quarter ended May 3, 1998 $13.13 $6.88
Second Quarter ended August 2, 1998 12.19 8.19
Third Quarter ended November 1, 1998 7.92 4.94
Fourth Quarter ended January 31, 1999 11.44 7.38
Fis cal Year Ended January 30, 2000 High Low
First Quarter ended May 2, 1999 $ 9.69 $7.22
Second Quarter ended August 1, 1999 10.31 7.56
Third Quarter ended October 31, 1999 7.50 3.00
Fourth Quarter ended January 30, 2000 5.84 3.84
The Company has never paid cash dividends on its Common Stock. The Company presently intends to
retain earnings for use in the operation and expansion of its business and therefore does not anticipate paying any
9/16/2010 www.sec.gov/Archives/edgar/data/86…
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