Sign In
Step 1
Unite with Fellow Investors
Step 2
Choose the Best Attorney
Step 3
Provide Documents
Step 4
Follow Case Progress
Step 5
Get Payout
WBA.US
id: 1288

Walgreens Boots (WBA) Financial Performance Issues Case

The defendant has requested the court to dismiss the case.
N.D. Illinois
Court
1:24-cv-05907
Case number
10/12/2023
Class period Start
06/26/2024
Class period End
09/10/2024
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

Walgreens Boots Alliance Inc

Walgreens Boots Alliance, Inc. operates as a healthcare, pharmacy, and retail company in the United States, Germany, the United Kingdom, and internationally. It operates through three segments: U.S...

    Ticker
    WBA.US
    ISIN
    US9314271084
    CIK
    0001618921
    Sector
    Healthcare
    Industry
    Pharmaceutical Retailers
    Country
    USA
    Address
    108 Wilmot Road, Deerfield, IL, United States, 60015