Walgreens Boots Alliance, Inc.
| Company Name | Walgreens Boots Alliance, Inc. |
| Stock Symbol | WBA |
| Class Period | October 12, 2023 to June 26, 2024 |
| Lead Plaintiff Motion Deadline | September 10, 2024 |
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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