Walgreens Will Pay $192.5 Million to Settle Rite Aid Investors’ Merger Claims

Walgreens Boots Alliance has agreed to pay $192.5 million to settle a class action lawsuit by investors in Rite Aid who accused Walgreens of misleading them in 2017 about scrutiny of the two drugstore chain operators’ then-pending merger.

The deal filed in Pennsylvania federal court on Wednesday is subject to approval by District Judge Jennifer Wilson.

David Knotts, an attorney for the shareholders, said the case was “intensely fought.” “We’re very pleased with the result and look forward to the court’s review,” he said.

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