IMPORTANT ANNOUNCEMENT: Wolf Haldenstein Adler Freeman & Herz LLP announces That a Federal Securities Class Action has Been F...
April 17 2015 - 9:15PM
Wolf Haldenstein Adler Freeman & Herz LLP announces that a
federal securities class action has been filed on behalf of all
persons or entities that purchased the securities of Walgreen Co.,
a formerly publicly traded company and current subsidiary of
Walgreens Boots Alliance Inc., (NYSE:WBA) (“Walgreens” or the
“Company”) in the United States District Court for the Northern
District of Illinois. The class period is between March 25, 2014
and August 5, 2014, inclusive (the “Class Period”).
Wolf Haldenstein encourages all shareholders who
suffered losses greater than $100,000 on Walgreens securities
purchased within the Class Period to contact us immediately at
(800) 575-0735 or email classmember@whafh.com.
The complaint alleges that during the Class Period,
defendants issued false and misleading statements and/or failed to
disclose adverse information regarding Walgreens’ business and
prospects, including the purported benefits of Walgreens’ strategic
partnership with Alliance Boots GmbH. Specifically, defendants
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 $1.8 to $2.3 billion fiscal year 2016 earnings
shortfall and the reasons for the shortfall from the investing
public. As a result of defendants’ false and misleading statements
and/or omissions during the Class Period, the price of Walgreens
stock traded at artificially inflated prices, reaching a high of
$76.08 per share.
On August 4, 2014, Walgreens announced that its
CFO, defendant Wade Miquelon, would be resigning. Two days later,
on August 6, 2014, defendants 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. Following these disclosures, Walgreens’
share price declined, falling from a close of $69.12 per share on
August 5, 2014 to a close of $59.21 per share on August 6, 2014, a
drop of over 14% on volume of more than 84 million shares
traded.
If you purchased Walgreens securities during the
Class Period, you may, no later than June 9, 2015, request that the
Court appoint you lead plaintiff of the proposed class. A
lead plaintiff is a representative party that acts on behalf of all
class members in directing the litigation. Any member of the
purported class may move the Court to serve as lead plaintiff
through counsel of their choice, or may choose to do nothing and
remain an absent class member.
Wolf Haldenstein has extensive experience in the
prosecution of securities class actions and derivative litigation
in state and federal trial and appellate courts across the
country. The firm has over 70 attorneys in various practice
areas; and offices in New York, Chicago and San Diego. The
reputation and expertise of this firm in shareholder and other
class litigation has been repeatedly recognized by the courts,
which have appointed it to major positions in complex securities
multi-district and consolidated litigation.
If you wish to discuss this action or have any
questions regarding your rights and interests in this case, please
immediately contact Wolf Haldenstein Adler Freeman & Herz LLP
by telephone at (800) 575-0735, via e-mail at
classmember@whafh.com, or visit our website at www.whafh.com.
All e-mail correspondence should make reference to the “Walgreens
Investigation.”
Attorney Advertising. Prior results do not
guarantee or predict a similar outcome.
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, donovan@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774