Overview

A class action lawsuit has been filed against Walgreens Boots Alliance, Inc. (“Walgreens” or the “Company”) and certain of the Company’s former senior executive officers alleging violations of the federal securities laws.  The Company’s common stock trades in an efficient market on the Nasdaq Global Select Market under the ticker symbol “WBA.”

The Walgreens class action lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Walgreens common stock between April 2, 2020, and January 16, 2025, both dates inclusive (the “Class Period”).  Investors have until March 31, 2025, to seek appointment as lead plaintiff in the Walgreens class action lawsuit.

Walgreens operates as a healthcare, pharmacy, and retail company in the United States, the United Kingdom, Germany, and internationally.  The Company’s operations are conducted through three reportable segments: U.S. Retail Pharmacy, International, and U.S. Healthcare.  The U.S. Retail Pharmacy segment includes the Walgreens business, which includes, among other things, the operations of retail drugstores, health and wellness services, and specialty and home delivery pharmacy services.  A significant percentage of sales for the U.S. Retail Pharmacy segment is derived from the sale of prescription drugs, the majority of which are reimbursed by third-party payors, including federal healthcare programs.

Walgreens, as a major pharmacy chain, is required to comply with federal laws such as the Controlled Substances Act (“CSA”) and the False Claims Act (“FCA”) to prevent the diversion of controlled substances and to submit accurate claims for reimbursement from federal healthcare programs.  These regulations are particularly relevant in the context of the U.S. opioid epidemic, which has caused hundreds of thousands of deaths and placed severe burdens on healthcare systems.  While Walgreens has positioned itself as a leader in combating opioid misuse and promoting corporate responsibility through its Environmental, Social, and Governance (ESG) initiatives, it has faced multiple legal actions for its role in exacerbating the opioid crisis.

Walgreens has been subject to significant legal settlements related to its opioid practices, including a 2013 agreement with the U.S. Department of Justice acknowledging its failure to prevent opioid diversion.  The Company subsequently reached a $683 million settlement with Florida in 2022 and a $4.95 billion multi-state settlement to resolve allegations of mishandling opioid prescriptions.  More recently, Walgreens agreed to pay $110 million to Philadelphia and $80 million to Baltimore in response to lawsuits over its role in the opioid epidemic.

Despite its commitments to compliance, Walgreens has continued to violate the CSA and FCA through improper sales of prescription medications.  Under the 2013 settlement, Walgreens pledged to train pharmacists on detecting diversion risks and to enhance compliance measures, yet subsequent disclosures revealed ongoing widespread regulatory violations.  These actions have exposed Walgreens to continued legal scrutiny and financial penalties, raising concerns about the Company’s adherence to its stated compliance and corporate responsibility commitments.

The Walgreens class action lawsuit alleges that Defendants, throughout the Class Period, made materially false and misleading statements regarding the Company’s business, operations, and prospects.  Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) contrary to the Company’s purported commitment to improved regulatory compliance, Walgreens continued to engage in widespread violations of federal law governing the dispensation of prescription medication and reimbursement for the same; (2) the foregoing conduct, when revealed, would subject Walgreens to a heightened risk of further regulatory scrutiny, civil liability, and reputational harm; (3) Walgreens’s revenues from the sale of prescription medications were unsustainable to the extent that they derived from unlawful conduct; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times.

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If you purchased or otherwise acquired Walgreens common stock between April 2, 2020, and January 16, 2025, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at [email protected]. 

The deadline to apply to the Court to serve as lead plaintiff in the Walgreens class action lawsuit is March 31, 2025.