SAN DIEGO, April 28, 2015 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain purchasers of shares of Walgreens Boots Alliance Inc (NYSE: WAG ) (“Walgreens”) over alleged Violations of Federal Securities Laws by Walgreens.
Investors who purchased a significant amount of shares of Walgreens Boots Alliance Inc (NYSE: WAG ) between March 25, 2014 and August 5, 2014, and / or Investors who purchased any (NYSE: WAG ) shares prior to March 2014 and continue to hold any of those shares have certain options and for certain investors are short and strict deadlines running. Deadline: June 9, 2015. (NYSE: WAG ) investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On June 19, 2012, Walgreens announced that it had entered into a strategic partnership with Alliance Boots GmbH to create a global pharmacy-led health and wellbeing enterprise.
The plaintiff claims that between March 25, 2014 and August 5, 2014 defendants publicly announced goals for fiscal year 2016 of $1 billion in combined synergies and $9 to $9.5 billion in adjusted earnings before interest and taxes (“EBIT”) for the combined entity, but concealed a $1.8 to $2.3 billion fiscal year 2016 earnings shortfall and the reasons for the shortfall from the investing public and that as a result of defendants’ allegedly false and misleading statements and/or omissions between March 25, 2014 and August 5, 2014, the price for (NYSE: WAG ) traded at allegedly artificially inflated prices, reaching a high of $76.08 per share.
The plaintiff says that the defendants heralded the partnership as providing an unmatched supply chain, an unparalleled portfolio of health and wellness brands, and a unique platform in developed and emerging markets.
The plaintiff alleges that on August 6, 2014, Walgreens and Alliance Boots hosted an investor call and during the call Walgreens former CEO and Walgreens bundled the disclosure of the new FY 2016 EBIT goal, which revealed the amount of the massive shortfall that had been concealed between March 25, 2014 and August 5, 2014 and that the purported benefits of the merger were not nearly as robust as represented, with numerous optimistic statements. (NYSE: WAG ) shares declined to $59.21 per share on August 6, 2014.
Those who purchased (NYSE: WAG ) shares have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Shareholders Foundation, Inc. Michael Daniels +1 (858) 779-1554 mail@shareholdersfoundation.com 3111 Camino Del Rio North Suite 423 San Diego, CA 92108
