SETTLED
Washtenaw County Employees' Retirement System v. Walgreen Co. et al
FILING DEADLINES:
11/05/2022 ($105,000,000 Walgreens Co.)
CASE NUMBER:
1:15-CV-03187
CLASS PERIOD:
April 17, 2014 — August 5, 2014
TOTAL SETTLEMENT FUND:
$105,000,000.00
SETTLING DEFENDANTS
Walgreens Co.
ELIGIBLE CLASS
All persons and entities other than Defendants who purchased or otherwise acquired the publicly traded securities of Walgreen Co. between March 25, 2014 and August 5, 2014, pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
ELIGIBLE INSTRUMENTS
Walgreen Co. securities
Preliminary Allegations
The complaint alleges that Defendants knew but failed to disclose that: (i) Walgreens had a massive (and growing) FY16 EBIT shortfall of $1.5 to $2.1 billion; (ii) the “unprecedented” generic drug price inflation identified by at least September 2013 and known in late 2013 had “systemically reverted to an inflationary trend”; (iii) Walgreens’ unfavorable reimbursement contracts were plaguing the Company’s profit margins and EBIT necessary to meet the FY16 Targets; and (iv) the Company was having severe problems negotiating with a “certain group of pay[e]rs” which added even more undisclosed risk and uncertainty to the FY16 EBIT Target.
Case Summary
Class action on behalf of all persons and entities other than Defendants who purchased or otherwise acquired the publicly traded securities of Walgreen Co. between March 25, 2014 and August 5, 2014, pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
 |
Case UpdatesJune 24, 2014 News: “Walgreen Co. Reports Fiscal 2014 Third Quarter Results” August 5, 2014 News: “Walgreen Said to Not Exit U.S. in Deal to Buy Rest of Boots” |
 |
Next Steps#Investors who purchased the #stock from March 25, 2014 through August 5, 2014, should contact Battea Class Action Services today. |
BRIEF COMPANY PROFILE
Walgreens Boots Alliance, Inc. operates as a pharmacy-led health and wellbeing company. It operates through three segments: Retail Pharmacy USA, Retail Pharmacy International, and Pharmaceutical Wholesale.