The Law Offices of Frank R. Cruz Announces Investigation of Walgreens Boots Alliance, Inc. (WBA) on Behalf of Investors

By: Law Offices of Frank R. Cruz via Business Wire

September 25, 2024 at 18:23 PM EDT

The Law Offices of Frank R. Cruz announces an investigation of Walgreens Boots Alliance, Inc. (“Walgreens” or the “Company”) (NASDAQ: WBA) on behalf of investors concerning the Company’s possible violations of federal securities laws.

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On June 27, 2023, Walgreens released its third quarter fiscal 2023 financial results, falling below analysts’ expectations. Additionally, the Company lowered its fiscal 2023 guidance due to “a slower profit ramp for U.S. health care” related to “reduced COVID, cold and flu season and softer market demand.”

On this news, Walgreens’ stock price fell $2.95, or 9.3%, to close at $28.64 per share on June 27, 2023, thereby injuring investors.

Then, on January 4, 2024, Walgreen released its first quarter fiscal 2024 financial results, falling short of expectations due to “operations in their co-located VillageMD/Walgreens centers.” On this news, Walgreens’ stock price fell $1.31, or 5.1%, to close at $24.26 per share on January 4, 2024.

Then, on June 27, 2024, Walgreens released its third quarter fiscal 2024 financial results, once again falling below analysts’ expectations and lowering its fiscal 2024 guidance. The Company stated that, while it “believe[s] in the future of [VillageMD] and intend[s] to remain an investor and partner . . . as part of [its] persistent focus on value creation for [Walgreens], [it is] collaborating with leadership toward an endpoint.”

On this news, Walgreens’ stock price fell $3.47, or 22.2%, to close at $12.19 per share on June 27, 2024, thereby injuring investors further.

If you purchased Walgreens securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

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