SAN DIEGO, July 19, 2024 (GLOBE NEWSWIRE) — Robbins LLP reminds investors that a shareholder filed a class action on behalf of all investors who purchased or otherwise acquired Walgreens Boots Alliance, Inc. (NASDAQ: WBA) securities between October 12, 2023 and June 26, 2024. Walgreens is a global company that delivers retail and pharmacy, and healthcare services across the United States, Europe, and Latin America.
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The Allegations: Robbins LLP is Investigating Allegations that Walgreens Boots Alliance, Inc. (WBA) Misled Investors Regarding its Business Prospects
The complaint alleges that during the class period defendants created the false impression that they possessed reliable information pertaining to the Company’s projected revenue outlook and anticipated growth while also minimizing risk from seasonality and macroeconomic fluctuations. In truth, Walgreens’ optimistic reports of growth, cost cutting measures, and overall stability of its pharmacy division fell short of reality; 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.
Plaintiff contends that on June 27, 2024, 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 Company attributed its results and lowered guidance on the “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, 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 class action against Walgreen Boots Alliance, Inc. Shareholders who want to serve as lead plaintiff for the class must file their motions with the court by September 10, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders.
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