The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Walgreens Boots Alliance, Inc. (WBA)

Business Wire 9-Sep-2024 3:50 PM

The Law Offices of Frank R. Cruz reminds investors of the upcoming September 10, 2024 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who acquired Walgreens Boots Alliance, Inc. ("Walgreens" or the "Company") (NASDAQ:WBA) securities between October 12, 2023 to June 26, 2024, inclusive (the "Class Period").

If you are a shareholder who suffered a loss, click here to participate.

On June 27, 2024, Walgreen released its third quarter 2024 financial results and reduced its revenue guidance for the fourth quarter and full fiscal year 2024 due to "significant challenges in the U.S. Retail Pharmacy business stemming from a worse-than-expected consumer environment and challenging pharmacy industry trends."

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

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the Company's pharmacy division was not equipped to handle the ongoing challenges in its industry and would require significant restructuring to create a sustainable model; and (2) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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If you purchased or otherwise acquired Walgreens securities during the Class Period, you may move the Court no later than September 10, 2024 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, 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.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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