Walgreens Boots (WBA) Financial Performance Issues Case

N.D. Illinois

Court

1:24-cv-05907

Case number

10/12/2023

Class period Start

06/26/2024

Class period End

09/10/2024

Lead Plaintiff motion deadline

$WBA stockholder filed a claim against Walgreens for hiding its pharmacy division's need for major restructuring and downplaying the risks.
After disappointing financial results on June 27, 2024, $WBA fell by 22%.
Walgreens investors can join this case to be notified about potential recovery.
Case Details:

On June 27, 2024, Walgreens announced disappointing third-quarter results and lowered its FY 2024 projections.

Walgreens' CEO, Timothy C. Wentworth, stated that the company faces a tough environment, with pressures on U.S. consumers and eroding pharmacy margins due to recent market dynamics.

On this news, $WBA fell more than 22%.

Based on these events, a $WBA stockholder filed a claim against Walgreens and its leaders, accusing them of the following:
Walgreens falsely claimed to have reliable information on its revenue outlook and growth, downplaying risks.
Walgreens’ pharmacy division was unprepared for industry challenges and needed major restructuring.
Considering all the representations, investors suspect Walgreens hid its pharmacy division's need for major restructuring and downplayed the risks.

Case Status

Lead Plaintiff Appointed

Alleged Offence

Mismanagement,

Misleading Statements,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

06/27/2024

Filing date

07/12/2024

Lead Plaintiff Deadline

09/10/2024

Judge

Joan B. Gottschall

Walgreens Boots (WBA) Financial Performance Issues Case

Collecting participants…