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INVESTOR ALERT: Shareholder Class Action Lawsuit Filed Against Walgreens Boots Alliance, Inc. (NASDAQ: WBA); DiCello Levitt LLP Encourages Investors with Losses to Discuss Their Options with Counsel

By: DiCello Levitt LLP via GlobeNewswire

February 13, 2025 at 17:47 PM EST

SAN DIEGO, Feb. 13, 2025 (GLOBE NEWSWIRE) -- A class action lawsuit has been filed on behalf of all persons and entities who purchased or otherwise acquired Walgreens Boots Alliance, Inc. (NASDAQ: WBA) (“Walgreens” or the “Company”) securities between April 2, 2020 through January 16, 2025 (the “Class Period”), charging the Company and certain senior executives with violations of the federal securities laws (collectively, “Defendants”).

Walgreens investors have until March 31, 2025 to seek appointment as lead plaintiff of the Walgreens class action lawsuit.

If you purchased or acquired Walgreens securities between April 2, 2020 through January 16, 2025, and suffered substantial losses, and you wish to obtain additional information or serve as lead plaintiff in this lawsuit, you may submit your information and contact us here: https://dicellolevitt.com/securities/walgreens-3/.

You can also contact DiCello Levitt attorneys Brian O’Mara or Hani Farah by calling (888) 287-9005 or emailing investors@dicellolevitt.com. Those who inquire by email are encouraged to include their mailing address, telephone number, and the number of shares purchased.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice.

Case Allegations

Walgreens is one of the largest pharmacy chains in the United States with over 8,000 pharmacies across the country.

The Walgreens lawsuit alleges Defendants misrepresented the Company’s commitment to regulatory compliance. For example, Walgreens told investors it had “policies and guidelines designed to deter wrongdoing and to promote honest and ethical conduct.” However, in truth. Walgreens engaged in widespread violations of federal law governing the dispensation and reimbursement of prescription medication, including with respect to opioids.

The truth was revealed on January 17, 2025, when the U.S. Department of Justice (“DOJ”) announced it filed a lawsuit against the Company alleging Walgreens dispensed millions of unlawful prescriptions in violation of the Controlled Substances Act and then sought reimbursement for many of these prescriptions from various federal health care programs in violation the False Claims Act.

According to the government’s complaint, Walgreens pharmacists filled millions of controlled substance prescriptions with clear red flags that indicated the prescriptions were highly likely to be unlawful, and that Walgreens systematically pressured its pharmacists to fill prescriptions, including controlled substance prescriptions, without taking the time needed to confirm their validity. These practices allowed millions of opioid pills and other controlled substances to flow illegally out of Walgreens stores. In addition, the DOJ complaint expressly alleged that Walgreens was “aware of its obligation to exercise corresponding responsibility” and that its business practices were at odds with earlier commitments to “implement or maintain a variety of compliance measures moving forward.”

Following the DOJ’s announcement, the price of Walgreens stock fell $1.56 per share, or more than 12%, over the following two trading sessions, to close at $11.37 per share on January 21, 2025.

About DiCello Levitt

At DiCello Levitt, we are dedicated to achieving justice for our clients through class action, business-to-business, public client, whistleblower, personal injury, civil and human rights, and mass tort litigation. Our lawyers are highly respected for their ability to litigate and win cases – whether by trial, settlement, or otherwise – for people who have suffered harm, global corporations that have sustained significant economic losses, and public clients seeking to protect their citizens’ rights and interests. Every day, we put our reputations – and our capital – on the line for our clients.

DiCello Levitt has achieved top recognition as Plaintiffs Firm of the Year and Trial Innovation Firm of the Year by the National Law Journal, in addition to its top-tier Chambers and Benchmark ratings. The New York Law Journal also recently recognized DiCello Levitt as a Distinguished Leader in trial innovation. For more information about the Firm, including recent trial victories and case resolutions, please visit www.dicellolevitt.com.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Media Contact

Amy Coker
4747 Executive Drive, Suite 240
San Diego, CA 92121
619-963-2426
investors@dicellolevitt.com