Rite Aid Merger
Settlement of Chabot, et al. v. Walgreens Boots Alliance, Inc., et al.
No. 1:18-cv-02118-JPW
On February 7, 2024, the United States District Court for the Middle District of Pennsylvania granted final approval of the parties’ settlement of this action, pending in the same Court. The settlement provides for the payment of $192,500,000 for the benefit of eligible Class Members. Lead Plaintiffs Douglas S. Chabot and Corey M. Dayton alleged Defendants made materially false and misleading statements concerning the level of regulatory risk faced by the original merger, downplayed or disputed contrary reports from journalists signaling regulatory turbulence, and represented that inside knowledge of the Federal Trade Commission gave confidence that the deal would close, and that these statements allegedly inflated or maintained inflation in Rite Aid Corporation (“Rite Aid”) stock price. Lead Plaintiffs further allege that the Class suffered damages when the alleged truth regarding these matters was publicly disclosed.
The Class consists of all Persons or entities who purchased or otherwise acquired Rite Aid common stock between October 20, 2016 and June 28, 2017, inclusive, and were damaged thereby. Excluded from the Class are: (i) defendant Walgreens Boots Alliance, Inc., and any of its subsidiaries, parents, and affiliates; (ii) defendants Stefano Pessina and George R. Fairweather and any of their immediate families, any entities in which they have a controlling interest, and their legal representatives, heirs, successors, or assigns; and (iii) the officers and directors of Rite Aid during the Class Period, and any members of their immediate families, any entities in which they have a controlling interest, and their legal representatives, heirs, successors, or assigns. Also excluded from the Class are all persons and entities who previously submitted a Request for Exclusion from the Class.
If you have any questions about the settlement or the litigation, please contact the Shareholder Relations Department at 1-800-449-4900.
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