Henry Schein Expects To Incur Charge Of $38.5 Mln Pre-tax In Q3 - Quick Facts

(RTTNews) - Henry Schein, Inc. (HSIC) said it anticipates settling the proposed class-action litigation, In Re Dental Supplies Antitrust Litigation, No. 1:16-CV-00696-BMC-GRB, in the United States District Court for the Eastern District of New York.

As a result, Henry Schein expects to record a charge of $38.5 million pre-tax or $0.19 per share when its reports its third-quarter 2018 results. The anticipated settlement is subject to reaching a definitive agreement among the parties, as well as to subsequent approval by the court.

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