The Shareholders Foundation announces that an investor, who held shares of Walgreen Company (NYSE:WAG) on November 17, 2014, filed a lawsuit in the U.S. District Court for the Northern District of Illinois over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements.
Investors who are current long-term stockholders of Walgreen Company (NYSE:WAG) shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of investors of Walgreen Company (NYSE:WAG) who held NYSE:WAG shares on November 17, 2014, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that the defendants issued material misstatements and omissions in proxy communications with respect to a proposed share issuance by Walgreen to Alliance Boots GmbH (“Alliance Boots”) shareholders and a corporate reorganization of Walgreen.
Walgreen Company reported that its Total Revenue declined from over $72.18 billion for the 12 months period that ended on August 31, 2011 to over $71.63 billion for the 12 months period that ended on August 31, 2012 and that its Net Income for those time periods declined from over $2.71 billion to over $2.12 billion.
Shares of Walgreen Company (NYSE:WAG) grew from under $30 per share in June 2012 to as high as over $75 per share in June 2014.
On August 4, 2014, Walgreen Company announced the appointment of Timothy McLevish as Walgreens executive vice president and chief financial officer. Walgreen company said that McLevish succeeds Wade D. Miquelon, executive vice president, chief financial officer and president of international for Walgreens, who will continue as an advisor to assist the company with the transition as it considers the exercise of Step 2 of its strategic partnership with Alliance Boots.
On August 5, 2014, Walgreen Company said that it will announce several updates related to its strategic transaction with Alliance Boots GmbH on Wednesday, Aug. 6, followed by a conference call with Walgreens management.
On August 6, 2014, Walgreen Company announced it has exercised its option to complete the second step of its strategic transaction with Alliance Boots GmbH ahead of the original option period, which was between February and August 2015. Walgreen Company said that it seeks shareholder approval in connection with acquisition of remaining 55 percent of Alliance Boots after initial 45 percent investment completed in 2012.
Shares of Walgreen Company declined from $76.08 per share in June 2014 to as low as $59.21 per share on August 6, 2014.
On September 30, 2014, Walgreen Company reported its fiscal 2014 fourth quarter and full-year results. Walgreen Company reported that its Total Revenue rose from over $72.21 billion for the 12 months period that ended on August 31, 2013 to over $76.39 billion for the 12 months period that ended on August 31, 2014 while its Net Income for those respective time periods declined from $2.45 billion to over $1.93 billion.
On December 10, 2014, Walgreen Company announced that Greg Wasson, president and chief executive officer, has informed Walgreen Company’s board of directors that he will retire shortly after the close of the second step of the Alliance Boots transaction
Shares of Walgreen Company (NYSE:WAG) shares closed on January 9, 2015 at $76.34 per share.
Those who purchased shares of Walgreen Company (NYSE:WAG) have certain options and should contact the Shareholders Foundation.
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