Walgreens Boots Alliance(US:WBA) Prnewswireยท2025-02-04 20:33Core Viewpoint - A class action lawsuit has been filed against Walgreens Boots Alliance, Inc. and certain officers for alleged violations of federal securities laws during the Class Period from April 2, 2020, to January 16, 2025, seeking damages for affected investors [1][2]. Company Overview - Walgreens operates as a healthcare, pharmacy, and retail company in the U.S., U.K., Germany, and internationally, with three reportable segments: U.S. Retail Pharmacy, International, and U.S. Healthcare [3]. - The U.S. Retail Pharmacy segment includes retail drugstores, health and wellness services, and specialty and home delivery pharmacy services, with a significant portion of sales derived from prescription drugs reimbursed by third-party payors [3]. Legal and Regulatory Context - Walgreens must comply with various federal statutes, including the Controlled Substances Act (CSA) and the False Claims Act (FCA), which govern the dispensation of controlled substances and the submission of claims for reimbursement [4][5]. - The opioid crisis in the U.S. has led to increased scrutiny of Walgreens' operations, with the company previously acknowledging failures to comply with the CSA and facing multiple legal proceedings related to its role in the opioid epidemic [5][6]. Allegations and Legal Proceedings - The complaint alleges that Walgreens made materially false and misleading statements regarding its business operations and compliance with federal laws, leading to unsustainable revenues from unlawful conduct [8]. - On January 17, 2025, the DOJ filed a civil complaint against Walgreens, alleging the company dispensed millions of unlawful prescriptions and sought reimbursement from federal health care programs, resulting in a significant drop in stock price [9].