Wed Sep 18 03:19:00 UTC 2024: ## Walgreens Boots Alliance Sued for Securities Fraud over VillageMD Partnership

**BOCA RATON, FL – September 17, 2024** – Saxena White P.A. has filed a class action lawsuit against Walgreens Boots Alliance, Inc. (WBA) and several of its executives alleging securities fraud. The lawsuit, filed in the U.S. District Court for the Northern District of Illinois, claims that Walgreens misled investors about the success of its partnership with VillageMD, a primary care provider, to drive long-term growth.

The lawsuit alleges that Walgreens, despite repeated claims of success, failed to effectively deploy capital to expand its healthcare segment and scale the VillageMD model. It also claims that the rollout of VillageMD clinics was not going as planned, leading to slower growth than expected and understaffed clinics with low patient numbers.

The complaint further alleges that Walgreens executives misled investors about the negative impact of the VillageMD expansion on the company’s short-term profits and overstated the value of VillageMD. This, the suit claims, led to a need for the company to potentially divest its stake in VillageMD.

These alleged misrepresentations, according to the lawsuit, were revealed when Walgreens announced disappointing earnings results and slashed its fiscal year guidance in June 2023. The stock price dropped over 10% following the announcement. The lawsuit also cites the departure of the Chief Financial Officer and Chief Executive Officer, as well as subsequent disappointing financial reports, as further evidence of the company’s alleged misrepresentation.

The class action lawsuit is open to anyone who purchased Walgreens common stock between July 1, 2021, and June 26, 2024, and experienced losses as a result of the alleged fraud. The deadline for individuals to apply to be lead plaintiff is November 18, 2024.

**Saxena White P.A. is a national law firm focused on representing injured investors in securities class actions and other complex litigation. The firm has recovered billions of dollars on behalf of its clients.**

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