On or around 05/13/2020 (Date of last review)
Filing Date: June 27, 2019
The Complaint alleges that Walgreens Boots Alliance, Inc., Fred's Inc. and certain of their respective officers issued false and misleading statements and/or failed to disclose, among other things, the level of regulatory risk faced by the original and revised mergers pursuant to which Walgreens would acquire Rite Aid Corp. Walgreens and Rite Aid had entered into an agreement with Fred's to sell 865 Rite Aid stores for $950 million in an all-cash transaction in order to complete the Original Merger (the "Fred's Asset Purchase Agreement"). On January 30, 2017, Rite Aid and Walgreens announced that they had entered into a new merger agreement (the "Revised Merger"). On June 29, 2017, Rite Aid and Walgreens announced that they had terminated the Revised Merger. Following the termination of the Revised Merger, Walgreens terminated the Fred's Asset Purchase Agreement.
On September 13, 2019, the Court issued an Order appointing Lead Plaintiffs and Counsel and staying the claims against Fred's Inc. due to a bankruptcy petition. On November 4, Lead Plaintiffs filed an amended Complaint.
Company & Securities Information
Defendant: Fred's Inc.
Industry: Retail (Drugs)
Headquarters: United States
Ticker Symbol: FRED
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
Theodore J. Zaller, et al. v. Fred's Inc., et al.
COURT: W.D. Tennessee
DOCKET #: 19-CV-02415
JUDGE: Hon. Sheryl H. Lipman
DATE FILED: 06/27/2019
CLASS PERIOD START: 12/20/2016
CLASS PERIOD END: 06/28/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Bramlett Law Offices (Nashville 2019)
Lifshitz & Miller
First Identified Complaint (FIC) Filings:
Class Action Complaint for Violations of the Federal Securities Laws
Order Granting Motion of Gary Fielder, Susan Ciesla, and Herbert Ciesla to: (1) Appoint Lead Plaintiffs; and (2) Approve Lead Plaintiffs' Selection of Counsel, Granting Unopposed Renewed Motion for Continuance of the Scheduling Conference and Related Deadlines and Staying Matter only as to Defendant Fred's Inc.