WELCOME TO THE RITE AID SECURITIES SETTLEMENT WEBSITE

This website has been established to provide general information related to the proposed Settlement of the class action lawsuit referred to as Chabot, et al. v. Walgreens Boots Alliance, Inc., et al., No. 1:18-cv-02118-JPW (the “Action”); and pending before the Honorable Jennifer P. Wilson in the United States District Court for the Middle District of Pennsylvania (the “Court”). The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Stipulation of Settlement dated October 18, 2023 (the "Stipulation"), which can be found and downloaded by clicking on the Case Documents tab above.

The law firms of Robbins Geller Rudman & Dowd LLP ("Lead Counsel") and Saxton & Stump LLC (together "Plaintiffs' Counsel") represent you and other Class Members. You will not be charged for these lawyers. They will be paid from the Settlement Fund to the extent the Court approves their application for fees and expenses. If you want to be represented by your own lawyer, you may hire one at your own expense.

WHAT IS THIS LAWSUIT ABOUT?

This Action arises under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (“Exchange Act”). Plaintiffs Douglas S. Chabot and Corey M. Dayton allege that during the period between October 20, 2016 and June 28, 2017, inclusive, Defendants Walgreens Boots Alliance, Inc. (“WBA”), Stefano Pessina, and George R. Fairweather (collectively “Defendants”) made materially false and misleading statements concerning the level of regulatory risk faced by the original merger, in which WBA would acquire Rite Aid Corporation (“Rite Aid”) for $9.00 per share in cash and the revised merger, in which WBA would acquire Rite Aid for between $6.50 and $7.00 per share in cash. More specifically, Plaintiffs allege that during the Class Period, Defendants made false and misleading statements (i) downplaying or disputing contrary reports from journalists signaling regulatory turbulence, and (ii) representing that inside knowledge of the Federal Trade Commission (“FTC”) review process gave confidence that the deal would close, and that these statements allegedly inflated or maintained inflation in Rite Aid’s stock price. Plaintiffs further allege that the Class suffered damages when the alleged truth regarding these matters was publicly disclosed.

If you purchased or otherwise acquired Rite Aid common stock between October 20, 2016 and June 28, 2017, inclusive (the “Class Period”) and were damaged thereby, you are a Class Member. Excluded from the Class are: (i) defendant WBA and any of its subsidiaries, parents, and affiliates; (ii) defendants Stefano Pessina and George R. Fairweather and any of their immediate families, any entities in which they have a controlling interest, and their legal representatives, heirs, successors, or assigns; and (iii) the officers and directors of Rite Aid during the Class Period, and any members of their immediate families, any entities in which they have a controlling interest, and their legal representatives, heirs, successors, or assigns. Also excluded from the Class are all persons and entities who previously submitted a Request for Exclusion from the Class in connection with the Notice of Pendency of Class Action that was previously mailed to potential Class Members in December of 2020 ("Class Notice").

WHAT DOES THE SETTLEMENT PROVIDE?

Defendants have agreed to pay or cause to be paid $192,500,000.00 in cash, which will be deposited into escrow for the benefit of the Class (the “Settlement Fund”). The Settlement Fund will be distributed among all Class Members who submit timely, valid Proofs of Claim and Release ("Claim Forms" or "Proof of Claim Forms")  pursuant to the Court-approved Plan of Allocation after deduction of Court-approved attorneys’ fees and expenses, Notice and Administration Costs, Taxes and Tax Expenses, and any other fees or expenses approved by the Court (the "Net Settlement Fund"). 

ADDITIONAL INFORMATION

Although the information on this website is intended to assist you, it does not replace the information contained in the Notice of Proposed Settlement of Class Action ("Notice") and the Stipulation. We recommend you read the Notice and other relevant case documents carefully.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

IMPORTANT DATES AND DEADLINES