Walgreens Boots Alliance, Inc.
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If you suffered a loss on your Walgreens Boots Alliance, Inc. investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below. Please note that submission of this form does not by itself form an attorney-client relationship nor does filling out this form mean you have joined any lawsuit.
Background
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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