Reportedly, Walgreen Boots Alliance (WBA) to pay $105 million to settle a long-running class-action lawsuit accusing it of misleading stockholders about how rising generic drug prices and reimbursement pressures would hurt its pharmacy business. The preliminary all-cash settlement was filed in a federal court in Chicago following six months of mediation and requires a judge’s approval. Walgreens denied wrongdoing but informed it settled to avoid the burden, uncertainty, and cost of further litigation, settlement papers show.
Shareholders said Walgreens inflated its stock price in 2014 by concealing bad news about drug prices and reimbursement rates, pushing investors to focus on its then-pending merger with Switzerland’s Alliance Boots GmbH.
Walgreen Boots Alliance (WBA) is a pharmacy-led, health and well-being enterprise with a long history of trusted healthcare services, community pharmacy care, and pharmaceutical wholesaling dates. To learn more about Walgreen Boots Alliance (WBA) and to continue to track its progress please visit the Vista Partners Walgreens Boots Alliance Page.
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