NEW
YORK, April 28, 2023 /PRNewswire/ -- Jakubowitz
Law announces that a securities fraud class action lawsuit has
commenced on behalf of shareholders of Rite Aid Corporation (NYSE:
RAD).
To receive updates on the lawsuit, fill out the
form:
https://claimyourloss.com/securities/rite-aid-class-action-loss-submission-form/?id=38579&from=4
The lawsuit seeks to recover losses for shareholders who
purchased Rite Aid between April 26,
2018 and March 13, 2023.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
May 19, 2023 to petition the
court. Your ability to share in any recovery doesn't require that
you serve as a lead plaintiff.
According to a filed complaint, Rite Aid Corporation issued
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.
Jakubowitz Law is vigorous in pursuit of justice for
shareholders who have been the victim of securities fraud. Attorney
advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887
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SOURCE Jakubowitz Law