NEW YORK--(BUSINESS WIRE)--The Rosen Law Firm, a global investor rights firm, announces that a class action lawsuit has been filed on behalf of purchasers of Walgreen, Co. (“Walgreens”) (Nasdaq:WBA) securities from March 25, 2014 through August 5, 2014. The lawsuit seeks to recover damages for Walgreens investors under the federal securities laws.
To join the Walgreens class action, go to the website at http://www.rosenlegal.com/cases-573.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email firstname.lastname@example.org or email@example.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
The lawsuit alleges that Walgreens made false and/or misleading statements, as well as failed to disclose material adverse facts pertaining to the Company’s business and prospects, including the purported benefits of Walgreens’ strategic partnership with Alliance Boots GmbH. Specifically, the Company publicly announced goals for fiscal year 2016 of $1 billion in combined synergies and $9 to $9.5 billion in adjusted earnings before interest and taxes (“EBIT”) for the combined entity, but concealed a earnings shortfall of $1.8 to $2.3 billion for fiscal year 2016 and the reasons for the shortfall from the investing public.
On August 4, 2014, the Company announced that its CFO Wade Miquelon would be resigning. Then, on August 6, 2014, the Company lowered the fiscal year 2016 EBIT target to $7.2 billion, $1.8 billion below the low-end and $2.3 billion below the high-end of the range that they had previously announced to investors. On this news, shares of Walgreens fell sharply, falling from $69.12 per share on August 5, 2014 to close at $59.21 per share on August 6, 2014, damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 9, 2015. If you wish to join the litigation, go to the website at http://www.rosenlegal.com/cases-573.html or to discuss your rights or interests regarding this class action, please contact, Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at firstname.lastname@example.org or email@example.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.