Walgreens Boots Alliance, Inc. Securities Litigation
On or around 02/03/2020 (Date of last review)
Filing Date: November 02, 2018
According to the Complaint, Walgreens Boots Alliance, Inc. ("Walgreens" or the Company) is a global pharmacy-led health and well-being enterprise that was created through the combination of Walgreens and Alliance Boots in December 2014.
The Complaint alleges that from October 20, 2016 to June 28, 2017, Defendants made numerous false and misleading statements concerning the level of regulatory risk faced by the Original Merger, in which Walgreens would acquire Rite Aid for $9.00 per share in cash and the Revised Merger, in which Walgreens would acquire Rite Aid for between $6.50 and $7.00 per share in cash. The Complaint alleges that Defendants made false and misleading statements: (i) downplaying or disputing contrary reports from journalists signaling regulatory turbulence; and (ii) representing that inside knowledge of the FTC gave confidence that the deal would close.
On November 16, 2018, the Court issued an Order appointing Lead Plaintiffs. Defendants filed a Motion to Dismiss the Complaint on December 26. On April 15, 2019, the Court issued an Order denying Defendants' Motion to Dismiss the Complaint. On July 26, Plaintiffs filed a Motion for Class Certification. On January 21, 2020, the Court issued an Order granting the Motion for Class Certification.
Company & Securities Information
Defendant: Walgreens Boots Alliance, Inc.
Industry: Retail (Drugs)
Headquarters: United States
Ticker Symbol: WBA
Company Market: NASDAQ
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
Douglas S. Chabot, et al. v. Walgreens Boots Alliance, Inc., et al.