NEW YORK, July 21, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Walgreens Boots Alliance, Inc. (“Walgreens” or “the Company”) (NASDAQ: WBA) and certain of its officers.

Class Definition

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Walgreens securities between October 12, 2023, and June 26, 2024, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/WBA.

Case Details

The complaint 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: (i) Defendants created the false impression that they possessed reliable information pertaining to Walgreens’ projected revenue outlook and anticipated growth while also minimizing risk from seasonality and macroeconomic fluctuations; and (ii) Walgreens’ pharmacy division was not equipped to handle the ongoing challenges in Walgreens’ industry and would require significant restructuring to create a sustainable model.

The Walgreens class action lawsuit further alleges that on June 27, 2024, Walgreens announced third quarter 2024 results below expectations and lowered fiscal year 2024 projections. The complaint further alleges that Walgreens’ CEO, defendant Timothy C. Wentworth, noted that Walgreens continues “to face a difficult operating environment, including persistent pressures on the U.S. consumer and the impact of recent marketplace dynamics which have eroded pharmacy margins.” On this news, the price of Walgreens stock fell more than 22%, according to the complaint.

What's Next?

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: bgandg.com/WBA or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in Walgreens you have until September 10, 2024, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.

There is No Cost to You

We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys’ fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.

Attorney advertising. Prior results do not guarantee similar outcomes.

Contact

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | info@bgandg.com

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