Rite Aid Corporation Class Action Lawsuit - RAD

The filed complaint alleges that Rite Aid Corporation made materially false and/or misleading statements and/or failed to disclose that:

(1) until at least June 2019, Rite Aid filled at least hundreds of thousands of unlawful prescriptions for controlled substances that lacked a legitimate medical purpose, including for potentially lethal opioids such as oxycodone and fentanyl; (2) Rite Aid pharmacists filled these prescriptions despite clear “red flags” that indicated that the prescriptions were unlawful; (3) Rite Aid ignored evidence that its stores were dispensing unlawful prescriptions, and intentionally deleted internal notes about suspicious prescribers written by concerned pharmacists; (4) by knowingly filling unlawful prescriptions for controlled substances, Rite Aid violated the Controlled Substances Act and, where Rite Aid sought reimbursement from federal healthcare programs, also violated the False Claims Act; (5) as a result, it was at risk of prosecution by federal authorities such as the United States Department of Justice; and (6) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times.

In order to be eligible to join the RAD class action lawsuit, you must have incurred a loss on shares of Rite Aid purchased during the class period listed above.

If you suffered a loss in Rite Aid during the relevant time frame or pursuant to the relevant offering(s), you have until May 19, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.