News Page
Published February 20, 2025
After federal investigators made stunning allegations against pharmacy giant Walgreens Boots Alliance ("Walgreens"), Walgreens’ stock plunged 12% in just a day. Now, some furious investors have filed a class-action lawsuit against the Company.
For years, Walgreens reported making billions on prescription drug sales. The Company said it followed controlled substance laws, especially related to opioids. But, the lawsuit says that was a lie.
In January 2025, the U.S. Department of Justice ("DOJ") filed charges against Walgreens. The DOJ alleges Walgreens told pharmacists to purposefully violate the Controlled Substances Act. This alleged conduct helped the Company drive up revenue on the back of wrongful opioid sales. Some of those prescriptions fraudulently billed Medicare and Medicaid, according to the DOJ.
After learning of the DOJ allegations, investors rapidly dumped their shares. Some of those investors are now joining the class-action lawsuit.