NEW
YORK, Nov. 4, 2022 /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-corporation-loss-submission-form/?id=33311&from=4
The lawsuit seeks to recover losses for shareholders who
purchased Rite Aid between April 14,
2022 and September 28, 2022.
Shareholders interested in acting as a lead plaintiff
representing the class of wronged shareholders have until
December 19, 2022 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: (i) despite representations to the contrary, the
number of new members that the Elixir pharmacy benefit management
services business was adding during the selling season ending on
January 1, 2023 was in material
decline; (ii) Rite Aid was likely to recognize a significant charge
for the impairment of goodwill related to Elixir due to a decrease
in "lives" covered by Elixir's pharmacy benefit management services
business; and (iii) as a result, the Company's public statements
were materially false and misleading at all relevant
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: (212) 867-4490
F: (212) 537-5887
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SOURCE Jakubowitz Law