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Walgreen Co.

Case Summary

Walgreen Co. Securities Litigation

Case Summary

Case Status:    ONGOING    
On or around 03/29/2018 (Ongoing date of last review)

Filing Date: April 10, 2015

According to the law firm press release, the lawsuit alleges that during the Class Period, defendants issued false and misleading statements and/or failed to disclose adverse information regarding Walgreens’ business and prospects, including the purported benefits of Walgreens’ strategic partnership with Alliance Boots GmbH. Specifically, defendants publicly announced goals for fiscal year 2016 of $1 billion in combined synergies and $9 to $9.5 billion in adjusted earnings before interest and taxes (“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 of defendants’ false and misleading statements and/or omissions during the Class Period, the price of Walgreens stock traded at artificially inflated prices, reaching a high of $76.08 per share.

On June 16, 2015, the Court issued an Order appointing Lead Plaintiff and Counsel. On August 17, Lead Plaintiff filed a consolidated Complaint.

On March 29, 2018, the Court issued an Order granting Plaintiff's motion for class certification.

Company & Securities Information

Defendant: Walgreen Co.

COMPANY INFORMATION:

Sector: Services
Industry: Retail (Drugs)
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: WAG
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.

First Identified Complaint

Washtenaw County Employees' Retirement System, et al. v. Walgreen Co., et al.

COURT: N.D. Illinois
DOCKET #: 15-CV-03187
JUDGE: Hon. Sharon Johnson Coleman
DATE FILED: 04/10/2015
CLASS PERIOD START: 03/25/2014
CLASS PERIOD END: 08/05/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Robbins Geller Rudman & Dowd LLP
    200 S. Wacker Drive Suite 3100 , Robbins Geller Rudman & Dowd LLP , IL 60606
    312.674.4674. 312.674.4674. ·
  2. VanOverbeke Michaud & Timmony, P.C.
    79 Alfred Street, VanOverbeke Michaud & Timmony, P.C., MI 48201
    313.578.1200 313.578.1200 ·
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Complaint for Violations of the Federal Securities Laws 04/10/2015
2 Order Granting The Motion Of Industriens Pensionsforsikring A/S For Appointment As Lead Plaintiff And Approval Of Its Selection Of Counsel 06/16/2015
3 U.S. District Court Civil Docket 09/15/2017

Reference Complaint

Washtenaw County Employees' Retirement System, et al. v. Walgreen Co., et al.

COURT: N.D. Illinois
DOCKET #: 15-CV-03187
JUDGE: Hon. Sharon Johnson Coleman
DATE FILED: 08/17/2015
CLASS PERIOD START: 03/24/2014
CLASS PERIOD END: 08/05/2014
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Kessler Topaz Meltzer & Check LLP (California)
    580 California Street, Suite 1750, Kessler Topaz Meltzer & Check LLP (California), CA 94104
    415.400.3000 415.400.3000 · info@ktmc.com
  2. Robbins Geller Rudman & Dowd LLP
    200 S. Wacker Drive Suite 3100 , Robbins Geller Rudman & Dowd LLP , IL 60606
    312.674.4674. 312.674.4674. ·
Reference Complaint (REF) Filings:
No Document Title Filing Date
1 Consolidated Class Action Complaint for Violations of the Federal Securities Laws 08/17/2015
2 Memorandum Opinion and Order 03/29/2018
3 U.S. District Court Civil Docket 03/29/2018
 
 

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