ACCESS Newswire
23 Nov 2022, 23:25 GMT+10
LOS ANGELES, CA / ACCESSWIRE / November 23, 2022 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Rite Aid Corporation ('Rite Aid' or 'the Company') (NYSE:RAD) violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between April 14, 2022 and September 28, 2022, inclusive (the ''Class Period''), are encouraged to contact the firm before December 19, 2022.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Rite Aid's Elixir PBM services business was suffering from a material decline in the number of new members added during the selling season ending January 1, 2023, despite the Company's positive comments. The Company was likely to recognize a considerable charge against goodwill related to Elixir based on the decline in new members. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Rite Aid, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.,
www.schallfirm.com
Office: 310-301-3335
[email protected]
SOURCE: The Schall Law Firm
Get a daily dose of St Louis Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to St Louis Star.
More InformationRALEIGH, North Carolina: North Carolina's highest court has ruled that a mother and her teenage son can pursue a lawsuit over a COVID-19...
WEST PALM BEACH, Florida: City officials in Fort Myers, Florida, voted last week to approve a new agreement allowing local police to...
WASHINGTON, D.C.: With flight delays rising and aviation safety under scrutiny, the U.S. government is preparing a sweeping modernization...
WASHINGTON, D.C.: The U.S. National Transportation Safety Board (NTSB) has called for urgent safety checks on 68 bridges, including...
WASHINGTON, D.C.: U.S. Interior Secretary Doug Burgum has announced plans to open more land for oil and gas drilling in Alaska and...
WASHINGTON, D.C.: Ten Democratic lawmakers in the U.S. House of Representatives have asked the Pentagon to reduce military training...
NEW YORK, New York - Shares in automakers fell sharply Thursday after U.S.President Donald Trump imposed a 25 percent tariff on all...
WASHINGTON, D.C.: Federal safety regulators have launched a new investigation into Ford's best-selling F-150 pickup trucks after receiving...
WASHINGTON, D.C.:/SEOUL: Hyundai Motor Group is set to dramatically expand its U.S. footprint, with a US$20 billion investment that...
STANSTEAD, Quebec: U.S. authorities have decided to end a long-standing unwritten rule that allowed people from Stanstead, Quebec,...
NEW YOKK, New York - U.S. stocks fell sharply Wednesday with tech stocks, mainly those associated with AI, taking the brunt of the...
TORONTO, Canada: As the threat of U.S. tariffs looms, Canada is looking inward to strengthen its economy by removing domestic trade...