Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Rite Aid Corporation.
The lawsuit seeks to recover losses for shareholders who purchased Rite Aid between April 14, 2022 and September 28, 2022.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until December 19, 2022 to petition the court. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
According to a filed complaint, Rite Aid Corporation issued materially false and/or misleading statements and/or failed to disclose that: (i) despite representations to the contrary, the number of new members that the Elixir pharmacy benefit management services business was adding during the selling season ending on January 1, 2023 was in material decline; (ii) Rite Aid was likely to recognize a significant charge for the impairment of goodwill related to Elixir due to a decrease in “lives” covered by Elixir’s pharmacy benefit management services business; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
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