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WBA.US
id: 1288
Walgreens Boots (WBA) Financial Performance Issues Case
The defendant has requested the court to dismiss the case.
N.D. Illinois
Court1:24-cv-05907
Case number10/12/2023
Class period Start06/26/2024
Class period End09/10/2024
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
Motion to dismiss
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