The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Pennsylvania on behalf of investors who purchased Rite Aid Corporation (NYSE: RAD) securities between April 14, 2022 and September 28, 2022.
According to the Rite Aid lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) despite representations to the contrary, the number of new members that the Elixir pharmacy benefit management services business was adding during the selling season ending on January 1, 2023 was in material decline; (ii) Rite Aid was likely to recognize a significant charge for the impairment of goodwill related to Elixir due to a decrease in “lives” covered by Elixir’s pharmacy benefit management services business; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you suffered a loss in Rite Aid you have until December 19, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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