id: 316, Created by Stan Vick, Scout
Walgreens Boots Alliance Inc
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- Company agreed to pay compensation to its investors, to avoid further litigation
- We help you to prepare documents and file for compensation
Claim deadline for this case already passed by, but we can still try and file for compensation for you
17 Apr 2014Class period Start
05 Aug 2014Class period End
05 Nov 2022Claim deadline
Washtenaw County Employees’ Retirement System v. Walgreen Co. et al.
Walgreen Co agreed to pay $105 million to settle a securities class action lawsuit accusing the Company of deceiving investors about business prospects.
The original complaint alleged that:
- the Company issued false and misleading statements and/or failed to disclose material information regarding Walgreens’ business and prospects, including the purported benefits of Walgreens’ strategic partnership with Alliance Boots GmbH.
- Walgreen publicly announced goals for the fiscal year 2016 of $1 billion in combined synergies and $9 to $9.5 billion in adjusted EBIT for the combined entity but concealed a $1.8 to $2.3 billion the fiscal year 2016 earnings shortfall and the reasons for the shortfall from the investing public.
As a result, the price of Walgreens stock traded at artificially inflated prices.
After several years of court proceedings, Walgreen agreed to settle with investors to avoid further litigation.
Washtenaw County Employees’ Retirement System
Kessler Topaz Meltzer & Check LLP (California), Robbins Geller Rudman & Dowd LLP
Hon. Sharon Johnson Coleman
A.B. Data Ltd
Court hearing date
07 October 2022
+$105,000,000Total Settlement Amount