Levi & Korsinsky, LLP announces that a RAD class action lawsuit has been filed on behalf of investors who purchased Rite Aid Corporation (RAD) securities between April 14, 2022, and September 28, 2022. For more on the RAD Lawsuit please contact us today.
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.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171