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WBA.US
id: 316

Walgreen (WBA) $105 Million Shareholder Settlement

It is still possible to file a late claim. The court will decide whether to accept late claims or not.
N.D. Illinois
Court
1:15-cv-3187
Case number
17 Apr 2014
Class period Start
05 Aug 2014
Class period End
05 Nov 2022
Claim deadline
Walgreens (WBA) paid $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.
  • Walgreens 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 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.
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Other
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.72
Plaintiffs
Washtenaw County Employees’ Retirement System
Attorneys
Kessler Topaz Meltzer & Check LLP (California), Robbins Geller Rudman & Dowd LLP
Judge
Hon. Sharon Johnson Coleman
Administrator
A.B. Data Ltd
Court hearing date
07 October 2022
Trades matching type
FIFO
+$105,000,000
Total Settlement Amount

Walgreens Boots Alliance Inc

Walgreens Boots Alliance, Inc. operates as a healthcare, pharmacy, and retail company in the United States, the United Kingdom, Germany, and internationally. It operates through three segments: U.S...

    Ticker
    WBA.US
    ISIN
    US9314271084
    CIK
    1618921
    Sector
    Healthcare
    Industry
    Pharmaceutical Retailers
    Country
    USA
    Address
    108 Wilmot Road, Deerfield, IL, United States, 60015