Press release
Investors who lost money with shares of Rite Aid Corporation (NYSE: RAD) should contact the Shareholders Foundation
A lawsuit was filed on behalf of investors in Rite Aid Corporation (NYSE: RAD) shares over alleged securities laws violations.
Investors who purchased shares of Rite Aid Corporation (NYSE: RAD) have certain options and for certain investors are short and strict deadlines running. Deadline: May 19, 2023. NYSE: RAD investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On March 13, 2023, the U.S. Department of Justice ("DOJ") issued a press release announcing that it had filed a lawsuit against Rite Aid Corporation , intervening in a whistleblower lawsuit brought under the False Claims Act against Rite Aid Corporation and various subsidiaries, alleging that Rite Aid knowingly filled unlawful prescriptions for controlled substances. The DOJ also announced that it was suing Rite Aid for violations of the Controlled Substances Act.
Shares of Rite Aid Corporation (NYSE: RAD) declined to as low as $2.05 per share on March 24, 2023.
The plaintiff claims that between April 26, 2018 and March 13, 2023, the defendants made false and/or misleading statements and/or failed to disclose, among other things, that Until at least June 2019, Rite Aid filled at least hundreds of thousands of unlawful prescriptions for controlled substances that lacked a legitimate medical purpose, including for potentially lethal opioids such as oxycodone and fentanyl, that Rite Aid pharmacists filled these prescriptions despite clear "red flags" that indicated that the prescriptions were unlawful, that Rite Aid ignored evidence that its stores were dispensing unlawful prescriptions, and intentionally deleted internal notes about suspicious prescribers written by concerned pharmacists, that by knowingly filling unlawful prescriptions for controlled substances, Rite Aid violated the Controlled Substances Act and, where Rite Aid sought reimbursement from federal healthcare programs, also violated the False Claims Act, that as a result, it was at risk of prosecution by federal authorities such as the United States Department of Justice ("DOJ"), and that as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times.
Those who purchased shares of Rite Aid Corporation (NYSE: RAD) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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