Levi & Korsinsky Announces a Securities Class Action Lawsuit Against Walgreens Boots Alliance, Inc.
NEW YORK, Feb. 10, 2025 – Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased Walgreens Boots Alliance, Inc. (“Walgreens” or the “Company”) (NASDAQ: WBA) common stock between March 31, 2020, and November 18, 2021. The lawsuit was filed in the United States District Court for the Northern District of Illinois Eastern Division and alleges that the Company violated federal securities laws.
Background
Walgreens is a leading retail pharmacy, wholesale, and distribution services company with operations in the United States, Europe, and other parts of the world. The Company operates through two reportable segments: Retail Pharmacy USA and Pharmacy, All Other Businesses. Walgreens provides various services, including retail pharmacy services, healthcare and wellness services, and retail merchandise sales.
Allegations
The complaint alleges that throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose material adverse facts about the Company’s business, operations, and financial condition. Specifically, the Company allegedly failed to disclose: (1) that the Company’s Retail Pharmacy USA segment was experiencing declining sales and customer traffic due to increased competition and other factors; (2) that the Company’s cost-cutting measures were not as effective as represented; and (3) that the Company’s financial statements were materially misstated.
Impact on Investors
As a result of this information being withheld from the market, Walgreens’ stock traded at artificially inflated prices during the Class Period. Investors who purchased Walgreens’ common stock during this period have suffered significant losses and are entitled to recover their damages.
Impact on the World
The lawsuit against Walgreens may have wider implications for the retail pharmacy industry as a whole. The allegations of declining sales and customer traffic due to increased competition in the retail pharmacy sector could signal a larger trend towards consolidation and consolidation among retail pharmacy chains. Additionally, the allegations of misstated financial statements could result in increased scrutiny of financial reporting practices in the industry.
Conclusion
If you purchased Walgreens common stock between March 31, 2020, and November 18, 2021, you may be entitled to recover your losses. To obtain more information about the lawsuit, contact Levi & Korsinsky, LLP. The Company’s stock price has been negatively impacted by this news, and the lawsuit could have far-reaching implications for the retail pharmacy industry.
Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation and have recovered significant damages for investors in various industries. For more information, please contact Levi & Korsinsky, LLP. You can also sign up for free to receive updates about this and other securities investigations by visiting the firm’s website.
- Investors who purchased Walgreens common stock between March 31, 2020, and November 18, 2021, may be entitled to recover their losses.
- The lawsuit alleges that the Company misrepresented its business, operations, and financial condition.
- The Company’s Retail Pharmacy USA segment reportedly experienced declining sales and customer traffic.
- Cost-cutting measures were not as effective as represented.
- Financial statements were materially misstated.
- The lawsuit could have far-reaching implications for the retail pharmacy industry.
