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A Rite Aid Corp. shareholder on March 20 filed a securities class action lawsuit against the company as well as former and current executives, alleging Rite Aid has given false or misleading statements regarding its alleged distribution of unlawful opioid prescriptions.
David Holland, on behalf of himself and other Rite Aid shareholders, filed the 50-page suit in U.S. District Court for the Northern District of Ohio. Rite Aid Corp., former CEOs John T. Standley and Heyward Donigan, former CFO Darren Karst and current CFO Matthew C. Schroeder are named as defendants.
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The lawsuit comes about a week after the Department of Justice sued Rite Aid under the False Claims Act, accusing the pharmacy chain of missing “red flags” as it illegally filled hundreds of thousands of prescriptions for controlled substances, including opioids. The Department of Justice said Rite Aid repeatedly filled prescriptions from May 2014 to June 2019 that were medically unnecessary, for off-label use, or not issued in the usual course of professional practice.
Related: U.S. Sues Rite Aid for Missing Opioid Red Flags
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