This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Walgreens securities between April 2, 2020 and January 16, 2025.
he Complaint alleges that Walgreens made materially false and/or misleading statements and/or failed to disclose that: (1) 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; (2) the foregoing conduct, when revealed, would subject Walgreens to a heightened risk of further regulatory scrutiny, civil liability, and reputational harm; (3) Walgreens' revenues from the sale of prescription medications were unsustainable to the extent that they derived from unlawful conduct; and (4) as a result, the Company's public statements were materially false and misleading at all relevant times.
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Walgreens cited cash needs for litigation as a reason for suspending shareholder dividends. That tells us how much money Walgreens expects to spend on lawsuits. Walgreens paid $1.7 billion of dividends in 2023.
Wanting to know what Walgreens Lawyer fees are PER year. Can you imagine what they pay. Add that to all the fines/lawsuits they have every year. Then ask for 2 /hr raise and hear their answer to that.
Not really surprised Walgreens is accused of continuing shady business practices after saying they wouldn't. What WILL be a surprise is if shareholders actually receive any compensation from this lawsuit.