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 Corporation 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.
WHY LEVI & KORSINSKY: Over the past 20 years, the team at Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
If you suffered a loss in Rite Aid Corporation 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.