Walgreens Boots Alliance settles class action suit for US$105 million

Walgreens Boots Alliance settles class action suit for US$105 million

THE WHAT? Walgreens Boots Alliance has settled a class action lawsuit bought by Walgreens shareholders, according to a report published by Reuters.

THE DETAILS The suit alleged that the US pharmacy chain misled its shareholders over the financial implications of rising generic drug prices and reimbursement pressures between April 17 and August 5, 2014, Reuters reveals. The all-cash settlement follows six months of mediation and will need to be rubber stamped by a judge.

THE WHY? By paying out, WBA will avoid admitting wrongdoing as well as the uncertainty, burden and cost of a day in court.

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