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ONGOING INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Rite Aid Corporation and Encourages Investors with Losses to Contact the Firm
March 17, 2023 9:41 AM EDT | Source: Schall Law Firm
Los Angeles, California--(Newsfile Corp. - March 17, 2023) - The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Rite Aid Corporation ("Rite Aid" or "the Company") (NYSE: RAD) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Rite Aid is the subject of a statement released by the DOJ on March 13, 2023. The DOJ alleges 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." The statement adds, "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." Based on this news, shares of Rite Aid dropped almost 20% on March 14, 2023.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
info@schallfirm.com
www.schallfirm.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/158793