NEW YORK, Nov. 21, 2022 (GLOBE NEWSWIRE) — Lawyer Publicity — Bronstein, Gewirtz & Grossman, LLC is advising investors that a class action lawsuit has been filed against Rite Aid Corporation (“Rite Aid” or the “Company”) ) (NYSE: RAD) and certain of its officers, on behalf of all persons and entities who purchased or otherwise acquired Rite Aid securities between April 14, 2022 and September 28, 2022, both dates inclusive (the “Period of appeal “). These investors are encouraged to join this deal by visiting the company’s website: www.bgandg.com/rad.
This class action seeks damages against the defendants for alleged violations of the Securities Exchange Act of 1934 (the “Exchange Act”).
The Complaint alleges that, throughout the Class Period, the Defendants 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) despite statements to the contrary, the number of new members (i.e. “lives”) that the service company Elixir PBM added during the sale the season ending January 1, 2023 was in significant decline; (2) Rite Aid was likely to recognize a significant charge for impairment of goodwill related to Elixir due to a decrease in “lives” covered by Elixir’s PBM services business; and (3) therefore, the Company’s public statements were materially false and misleading at all relevant times.
A class action lawsuit has already been filed. If you would like to view a copy of the complaint, you can visit the firm’s website: www.bgandg.com/rad or contact Peretz Bronstein, Esq. or his legal assistant and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Rite Aid, you have until December 19, 2022 to ask the Court to name you as the lead plaintiff. Your ability to participate in any collection does not require you to serve as the lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The company has fetched hundreds of millions of dollars for investors nationwide. Lawyer advertisement. Prior results do not guarantee similar results.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | [email protected]
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