Rite Aid Investor Sues Over Stock Drop After DOJ Opioid Action

March 21, 2023, 5:27 PM UTC

The government’s recent claims against Rite Aid Corp. for filling unlawful opioid prescriptions revealed misrepresentations by the pharmacy chain and sent its stock price down by about 20%, a shareholder alleges.

Rite Aid and several of its executives failed to disclose to investors that it “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,” stockholder David Holland says.

He filed the suit Monday in the US District Court for the Northern District of Ohio on behalf of a proposed class.

The ...

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