Medical goods supplier Henry Schein Inc. hsix said Thursday it expects to settle class-action litigation in a case brought in New York and will book a charge in the third quarter. The case, 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, alleges that the company and others violated antitrust rules by fixing prices on dental equipment, among other issues. The company expects the charge to come to $38.5 million pretax, or 19 cents a share. The settlement is subject to a definitive agreement among the parties, and 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," Chief Executive Stanley Bergman said in a statement. Henry Schein is expecting its co-defendants, Patterson Cos. Inc. PDCO, -5.39% and Benco Dental Supply Company to also settle. Henry Schein shares were not yet active premarket, but have gained 16% in 2018, while the S&P 500 SPX, -0.49% has gained 9%.
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