Step 1
Unite with Fellow Investors
Step 2
Choose the Best Attorney
Step 3
Provide Documents
Step 4
Follow Case Progress
Step 5
Get Payout
RAD.US
id: 626, Created by Stan Vick Chase, Scout
Join Rite Aid (RAD) Case on Misleading to Fight Losses
How it works?
- We find Attorney for the Case
- Attorney files case on behalf of Investors
- You get updates and receive payout in case of success
Would it cost me anything?
- No, you do not pay anything out of your pocket neither to us, nor to Attorney
- Attorneys get % fee in case of success
- Platform charges service fee from Attorneys
What are the chances for success?
Every Case is unique, but statistically, 47% of Cases end up with a settlement.
Please see below recent successful cases:
How it works?
- We find Attorney for the Case
- Attorney files case on behalf of Investors
- You get updates and receive payout in case of success
Would it cost me anything?
- No, you do not pay anything out of your pocket neither to us, nor to Attorney
- Attorneys get % fee in case of success
- Platform charges service fee from Attorneys
What are the chances for success?
Every Case is unique, but statistically, 47% of Cases end up with a settlement.
Please see below recent successful cases:
- DOJ filed a lawsuit against Rite Aid, alleging filling unlawful prescriptions for controlled substances.
- On this news, $RAD fell 18.9%, damaging investors.
- Investors suspect Rite Aid & its Leaders of multiple violations which brought damage to shareholders.
On March 13, 2023, the DOJ announced in a press release that it had filed a lawsuit against Rite Aid, thus intervening in a whistleblower lawsuit brought under the False Claims Act (FCA) against Rite Aid and various subsidiaries, alleging that Rite Aid knowingly filled unlawful prescriptions for controlled substances. The DOJ also announced that it was suing Rite Aid for violations of the Controlled Substances Act (CSA).
On this news, $RAD fell 18.9%, damaging investors.
Taking all the facts into account, Investors have reasons to Suspect Rite Aid and its Leaders of making false and/or misleading statements and/or failing to disclose, among other things, that:
- Until at least June 2019, Rite Aid filled at least hundreds of thousands of unlawful prescriptions for controlled substances that lacked a legitimate medical purpose, including for potentially lethal opioids such as oxycodone and fentanyl;
- Rite Aid pharmacists filled these prescriptions despite clear “red flags” that indicated that the prescriptions were unlawful;
- Rite Aid ignored evidence that its stores were dispensing unlawful prescriptions, and intentionally deleted internal notes about suspicious prescribers written by concerned pharmacists;
- by knowingly filling unlawful prescriptions for controlled substances, Rite Aid violated the Controlled Substances Act and, where Rite Aid sought reimbursement from federal healthcare programs, also violated the False Claims Act;
- it was at risk of prosecution by federal authorities such as the United States Department of Justice (“DOJ”)
As a result, Company's statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Alleged Offence
Mismanagement,
Misleading Statements,
Financial Misrepresentation,
Fraud,
Failure to Disclose,
Malpractice,
Negligence,
Breach of Fiduciary duty,
Omissions
Suspected Party
Directors,
Management,
Shareholder,
Service Provider
Security Type
Stocks
Trade Direction
Long
Shock Event Date
13 March 2023
Case number
23-CV-00589
Filing date
20 March 2023
Class period Start
26 April 2018
Class period End
13 March 2023
Lead Plaintiff Deadline
19 May 2023
Court
Northern District of Ohio
Judge
Hon. James S. Gwin