Final Deadline Alert: Bronstein, Gewirtz & Grossman, LLC Notifies Rite Aid Corporation (RAD) Investors of Class Action and Last Few Hours to Actively Participate

May 19, 2023 10:00 AM EDT | Source: Bronstein, Gewirtz & Grossman, LLC

New York, New York--(Newsfile Corp. - May 19, 2023) - Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Rite Aid Corporation (NYSE: RAD) ("Rite Aid" or the "Company") and certain of its officers, on behalf of all persons and entities that purchased, or otherwise acquired Rite Aid securities between April 26, 2018 and March 13, 2023, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/rad.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws.

The Complaint alleges that the Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose, among other things, 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 ("DOJ") 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.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/rad or you may contact Peretz Bronstein, Esq. or his Law Clerk and Client Relations Manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Rite Aid 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.

Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | info@bgandg.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/159431

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