Walgreens to Pay $192.5 Million to Settle Rite Aid Buyout Suit

Walgreens Boots Alliance Inc. agreed to pay $192.5 million to resolve investor claims that some of the drugstore chain’s executives misled them about its 2015 bid to acquire rival Rite Aid Corp.

Deerfield, Illinois-based Walgreens – the second-largest US pharmacy chain – will pay Rite Aid shareholders to settle a federal class-action lawsuit accusing the company of making false statements about how likely it was regulators would approve the deal, according to a court filing published late Tuesday.

Those statements artificially inflated Rite Aid’s stock price and when the merger fell apart in 2017, investors lost millions of dollars, according ...