NEW YORK - February 3, 2025 (NEWMEDIAWIRE) - Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against Walgreens Boots Alliance, Inc. (“Walgreens” or the “Company”) (NASDAQ: WBA) on behalf of investors that purchased or otherwise acquired Walgreens securities between April 2, 2020 and January 16, 2025 (the “Class Period”).
If you are an investor in Walgreens and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing jcampisi@kaplanfox.com or by calling (212) 329-8571.
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than March 31, 2025 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process.
After markets closed, on January 17, 2025, the United States Department of Justice (“DOJ”) issued a press release entitled "Justice Department Files Nationwide Lawsuit Alleging Walgreens Knowingly Filled Millions of Prescriptions that Lacked a Legitimate Medical Purpose." The announcement states that "[t]he government's complaint alleges that, from approximately August 2012 through the present, Walgreens knowingly filled millions of prescriptions for controlled substances that lacked a legitimate medical purpose, were not valid, and/or were not issued in the usual course of professional practice." The DOJ also states the Company “dispensed millions of unlawful prescriptions in violation of the Controlled Substances Act” as well as violations of the False Claims Act for seeking “reimbursement for many of these prescriptions from various federal health care programs.”
On January 21, 2025, the first trading day following this news, the price of Walgreens stock fell $1.15 per share, over 9%, to close at $11.37 per share.
The complaint alleges, among other things, that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (i) contrary to the Company’s purported commitment to improved regulatory compliance, Walgreens continued to engage in widespread violations of federal law governing the dispensation of prescription medication and reimbursement for the same; (ii) the foregoing conduct, when revealed, would subject Walgreens to a heightened risk of further regulatory scrutiny civil liability, and reputational harm; and (iii) Walgreens’ revenues from the sale of prescription medications were unsustainable to the extent that they derived from unlawful conduct.
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If you have any questions about this Notice, your rights, or your interests, please contact:
CONTACT:
Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(212) 329-8571
jcampisi@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
lking@kaplanfox.com
View the original release on www.newmediawire.com
