Walgreens Board Beats Claims It Ignored Insulin Pen Price Scheme

The board of Walgreens Boots Alliance Inc. shook off a shareholder derivative lawsuit alleging it exposed the pharmacy giant to hundreds of millions of dollars in legal liability and lost goodwill by looking the other way while it overcharged the federal government for insulin pens.

The suit accused the board of ignoring “red flags” related to the insulin scheme after abandoning reforms put in place a decade earlier, as part of an unrelated settlement of overbilling charges.

“Even if one could, through squinted eyes, perceive a red flag from the patchwork of events raised in the Complaint,” the claim for ...