Rite Aid pharmacy in New Jersey. Photo: Diego M. Radzinschi/ALM Rite Aid Turns to Hangley Aronchick to Fight Off Securities Action
This suit was surfaced by Law.com Radar. Read the complaint here.
January 25, 2023 at 01:15 PM
1 minute read
Rite Aid and certain executives have tapped attorney Andrew M. Erdlen of Hangley Aronchick Segal Pudlin & Schiller to fight a pending securities class action concerning pharmacy benefit management services offered through the company's subsidiary Elixir. The complaint, filed Oct. 19 in Pennsylvania Eastern District Court by Pomerantz LLP; the Rosen Law Firm; and Wohl & Fruchter, accuses the defendants of failing to disclose that the company was subject to a $252.2 million impairment-of-goodwill charge due to a decrease in sales. The case, assigned to U.S. District Judge Timothy J. Savage, is 2:22-cv-04201, Page v. Rite Aid Corporation et al.
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