Walgreens Faces Derivative Suit Over Recent Stock-Price Plunge

Fraud and breach of fiduciary duty were among the claims made in a shareholders’ derivative suit filed in federal court against Walgreens Boots Alliance Inc. and its officers.

The suit filed Tuesday in the US District Court for the Northern District of Illinois seeks a remedy for alleged wrongdoings that occurred between Oct. 12, 2023, and June 24, 2024.

According to the complaint filed by shareholder Mark Tobias, the individual officers and Walgreens overstated the pharmacy giant’s expected 2024 revenue by falsely and materially claiming “confidence in the brand inflation, volume growth, cost execution, discipline, and overall contributions of WBA’s ...