Civil Plaintiff
Walgreens Agrees to a $105 Million Shareholders Settlement
Walgreens Boots Alliance Inc (WBA.O) agreed to pay $105 million to settle a long-running class-action lawsuit accusing it of misleading shareholders about how rising generic drug prices and reimbursement pressures would hurt its pharmacy business.
The preliminary all-cash settlement was filed on Thursday in a federal court in Chicago following six months of mediation, and requires a judge’s approval.
Walgreens denied wrongdoing, but settled to avoid the uncertainty, burden and cost of further litigation, settlement papers show. The company did not immediately respond on Friday to requests for additional comment.
