Levi & Korsinsky is investigating the Board of Directors of Rite Aid Corporation (NYSE: RAD) in connection with the sale of the Company to Walgreens Boots Alliance, Inc. Under the terms of the transaction, Rite Aid shareholders will receive $9.00 for each share of Rite Aid stock they own.
The investigation concerns whether the Board of Rite Aid breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Walgreens Boots Alliance, Inc. is underpaying for Rite Aid shares, thus unlawfully harming Rite Aid shareholders. In particular, Rite Aid stock has traded above the offer price as recently as August 17, 2015.
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