| COMPANY |
Walgreens Boots Alliance, Inc. |
| COURT |
United States District Court for the Northern District of Illinois |
| CASE NUMBER |
24-cv-05907 |
| JUDGE |
The Hon. Joan B. Gottschall |
| CLASS PERIOD |
October 12, 2023 through June 26, 2024 |
| SECURITY TYPE |
Securities |
LEAD PLAINTIFF DEADLINE IS SEPTEMBER 10, 2024.
If you have suffered losses and would like to discuss your rights, please fill out this form or you may contact Jonathan Naji, Esq. at (484) 270-1453 or via e-mail at info@ktmc.com.
Case Background:
The Class Period begins on October 12, 2023, when Defendants issued a press release announcing fiscal 2024 guidance. On an earnings call the same day Executive VP and Global CFO Manmohan Mahajan detailed the company’s growth expectations, pertinently discussing the retail pharmacy segment of the company.
Then, on June 27, 2024, Walgreen released its third quarter 2024 financial results and reduced its revenue guidance for the fourth quarter and full fiscal year 2024 due to “significant challenges in the U.S. Retail Pharmacy business stemming from a worse-than-expected consumer environment and challenging pharmacy industry trends.” On this news, Walgreen’s stock price fell $3.47, or 22.2%, to close at $12.19 per share on June 27, 2024.
The complaint alleges that, throughout the Class Period, Defendants touted the company’s projected revenue outlook and anticipated growth while minimizing risk from seasonality and macroeconomic fluctuations. In truth, however, the complaint alleges that Walgreens’s optimistic reports of growth, cost cutting measures, and overall stability of its pharmacy division were misleading and that the company’s pharmacy division was not equipped to handle the ongoing challenges in its industry and, further, would require significant restructuring to create a sustainable model.
What is a Lead Plaintiff?
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Filling out the online form above or communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.