SAN DIEGO, July 15, 2024 (GLOBE NEWSWIRE) — Robbins LLP notifies investors that a shareholder has filed a class action lawsuit on behalf of all investors who purchased or otherwise acquired securities of Walgreens Boots Alliance, Inc. (NASDAQ: WBA) between October 12, 2023 and June 26, 2024. Walgreens is a global company that provides retail, pharmaceutical and healthcare services in the United States, Europe and Latin America.
For more information, submit a form, email Attorney Aaron Dumas, Jr., or call us at (800) 350-6003.
The accusations: Robbins LLP is investigating allegations that Walgreens Boots Alliance, Inc. (WBA) misled investors about its business prospects
The lawsuit alleges that during the Class Period, defendants created the false impression that they had reliable information regarding the company’s projected revenue outlook and expected growth, while minimizing the risk of seasonality and macroeconomic fluctuations. In truth, Walgreens’ optimistic reports about growth, cost-cutting measures, and overall stability of its pharmacy division fell short of reality; the company’s pharmacy division was unprepared to meet the ongoing challenges in its industry and, furthermore, would require significant restructuring to create a sustainable model.
The plaintiff alleges that on June 27, 2024, Walgreens announced its financial results for the third quarter of fiscal 2024 and lowered its revenue forecast for the fourth quarter and full fiscal 2024. The company attributed its results and lowered forecast to the “significant challenges in the U.S. pharmacy business resulting from a worse than expected consumer environment and challenging trends in the pharmacy industry.” As a result of this news, the price of Walgreens’ common stock declined approximately 22.16%, from $15.66 per share on June 26, 2024 to $12.19 per share on June 27, 2024.
What now: You may be eligible to participate in the Walgreen Boots Alliance, Inc. class action lawsuit. Shareholders who wish to serve as lead plaintiff for the class action lawsuit must file their motions with the Court by September 10, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for compensation. If you choose not to take action, you may remain an absent class member. For more information, click here Here.
Representation is on a contingency basis. Shareholders pay neither fees nor expenses.
About Robbins LLP: Some law firms issuing press releases on this matter do not litigate securities class actions; Robbins LLP does. As a recognized leader in shareholder litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures and hold corporate executives accountable for wrongdoing since 2002. Since our founding, we have recovered over $1 billion for shareholders.
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