Rite Aid Corporation (RAD)

Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Rite Aid Corporation (NYSE:RAD) (“Rite Aid” or the “Company”) and certain of its officers, on behalf of all persons and entities that purchased, or otherwise acquired Rite Aid securities between April 26, 2018 and March 13, 2023, inclusive (the “Class Period”). Such investors are encouraged to join this case.                

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.

The complaint alleges that on March 13, 2023, the United States Depart of Justice (“DOJ”) released a statement “alleging that Rite Aid Dispensed Controlled Substances in Violation of the False Claims Act and the Controlled Substances Act.” The statement claims that “Rite Aid knowingly filled unlawful prescriptions for controlled substances.” According to the Complaint, “Rite Aid’s pharmacists repeatedly filled prescriptions for controlled substances with obvious red flags, and Rite Aid intentionally deleted internal notes about suspicious prescribers. These practices opened the floodgates for millions of opioid pills and other controlled substances to flow illegally out of Rite Aid’s stores.” On this news, the price of Rite Aid’s stock fell $0.62, or 18.90%, to close at $2.66 per share on March 14, 2023. Rite Aid’s stock dropped even further to $0.235, or 8.8%, to close at $2.57, on March 15, 2023.

A class action lawsuit has already been filed. You can review a copy of the Complaint and sign the certification form or you may contact Peretz Bronstein, Esq. or his Law Clerk 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 May 19, 2023 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.

Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits.  The firm has recovered hundreds of millions of dollars for investors nationwide.  Attorney advertising. Prior results do not guarantee similar outcomes.