Complaint alleges That Rite Aid Corporation Made Misleading Statements Regarding Unlawfully Filled Prescriptions
ONTARIO, Calif., March 30, 2023 /PRNewswire/ -- McCune Law Group, McCune Wright Arevalo Vercoski Kusel Weck Brandt APC (MLG) – a national law firm specializing in Securities Litigation, Commercial Litigation, and Class Actions, is investigating Rite Aid Corporation (NYSE: RAD) ("Rite Aid" or the Company") over allegations that Rite Aid made false and/or misleading statements that failed to disclose the unlawful filling hundreds of thousands of prescriptions for controlled substances that lacked a legitimate medical purpose.
A case, captioned Holland v. Rite Aid Corporation, No. 1:23-cv-00589 (N.D. Ohio Mar. 20, 2023), brings claims on behalf of all purchasers of Rite Aid securities during the period of April 26, 2018, and March 12, 2023, inclusive ("Class Period") against Rite Aid Corporation based on violations of the Securities Exchange Act of 1934. As a result, investors have until May 19, 2023, to file as lead plaintiff in the lawsuit.
The lawsuit alleges that the defendants throughout the class period made false and/or misleading statements and/or failed to disclose: (1) until at least June 2019, Rite Aid filled at least hundreds of thousands of unlawful prescriptions for controlled substances that lacked a legitimate medical purpose, including for potentially lethal opioids such as oxycodone and fentanyl; (2) Rite Aid pharmacists filled these prescriptions...
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