Walgreens Boots Alliance(WBA) Prnewswire·2025-02-19 01:16Core Viewpoint - A class action lawsuit has been filed against Walgreens Boots Alliance, Inc. for allegedly misleading investors regarding its distribution of opioid prescriptions and failing to comply with federal regulations [1][2]. Allegations - The lawsuit claims that Walgreens engaged in widespread violations of federal law concerning prescription medication dispensation and reimbursement, despite its stated commitment to regulatory compliance [2]. - It is alleged that Walgreens' revenues from prescription medications were unsustainable due to unlawful conduct, which could lead to increased regulatory scrutiny and civil liability [2]. DOJ Complaint - On January 17, 2025, the Department of Justice (DOJ) filed a civil complaint against Walgreens, alleging that the company knowingly filled millions of illegitimate prescriptions for controlled substances, including excessive quantities of opioids [3]. - The complaint states that Walgreens was aware of its responsibility to maintain compliance and that its business practices contradicted previous commitments to uphold regulatory measures [3]. - Following the DOJ's announcement, Walgreens' stock price dropped by 11.37 per share on January 21, 2025 [3]. Class Action Participation - Shareholders of Walgreens Boots Alliance, Inc. may be eligible to participate in the class action lawsuit, with options to serve as lead plaintiff or remain an absent class member [4].