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Walgreens to settle Rite Aid investors' merger claims for $192 million

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SaltWire's Atlantic regional weather forecast for October 19, 2023 | SaltWire - 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.

A spokesperson for Walgreens and an attorney for Rite Aid investors did not immediately reply to requests for comment. The lawsuit accuses Walgreens of downplaying scrutiny from U.S. antitrust regulators starting in October 2016. Walgreens, which operates stores under its own name as well as Boots stores in Britain and Duane Reade stores in the United States, instead bought around 42% of Rite Aid's existing stores that year for $4.38 billion.

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Walgreens to settle Rite Aid investors' merger claims for $192 millionThe deal filed in Pennsylvania federal court on Wednesday is subject to approval by District Judge Jennifer Wilson. A spokesperson for Walgreens and an...
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