A securities class action has been filed in the USDC — N.D.IL. against Walgreens Boots Alliance, Inc. (WBA) (“Walgreens” or the “Company”), on behalf of all persons or entities that purchased or otherwise acquired Walgreens common stock between October 12, 2023 and June 26, 2024, both dates inclusive (the “Class Period”).
Walgreens is a global company that delivers retail and pharmacy, and healthcare services across the United States, Europe, and Latin America. The Company also has a healthcare segment dedicated solely to the US. Walgreens splits itself into three segments: United States retail and pharmacy, international sales, and United States healthcare.
The claim arises on June 27, 2024, when Walgreens announced its financial results for the third quarter of fiscal 2024 and reduced its revenue guidance for the fourth quarter and full fiscal year 2024.
The complaint alleges that Defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of Walgreens’ pharmacy division; notably, that it was not truly equipped to handle the ongoing challenges in its industry and that Walgreens would require significant restructuring to create a sustainable model. Such statements absent these material facts caused Plaintiff and other shareholders to purchase Walgreens’ securities at artificially inflated prices.
As a result, from a closing market price of $15.66 per share on June 26, 2024, Walgreens’ stock price fell to $12.19 per share on June 27, 2024, a decline of about 22.16% in the span of just a single day.
If you purchased Walgreens common stock during the class period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.