- 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 Rite Aid investors sued Walgreens and its executives over statements they made about the proposed merger between the two major U.S. pharmacy chains, which was first announced in 2015. 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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