Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Northern District of Illinois on behalf of shareholders of Walgreens Boots Alliance, Inc. who purchased shares between October 12, 2023 and June 26, 2024.
Walgreens and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On June 27, 2024, the Company released its 3Q2024 financial results that were well below expectations and reduced its revenue guidance for the fourth quarter and full fiscal year 2024, due in part to the “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, the price of Walgreens’s shares fell over 22%, from a closing price of $15.66 per share on June 26, 2024 to $12.19 per share on June 27, 2024.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until September 10, 2024 to request that the court appoint them lead plaintiff.