SAN FRANCISCO, March 21, 2023 (GLOBE NEWSWIRE) — Hagens Berman urges Rite Aid Corporation WHEEL Investors who have suffered significant losses Submit your losses now.

school lesson: April 26, 2018 – March 13, 2023
Deadline for lead plaintiff: May 19, 2023
Visit: www.hbsslaw.com/investor-fraud/RAD
Contact a lawyer now: RAD@hbsslaw.com
844-916-0895

Rite Aid Corporation (RAD) class action lawsuit alleging securities fraud:

The litigation focuses on Rite Aid’s compliance with federal regulations regarding its dispensaries’ prescribing practices and accounting for reimbursement from the federal healthcare program.

According to the complaint, the defendants provided false and misleading information or failed to disclose that Rite Aid: (1) as of June 2019, filled hundreds of thousands of illegal prescriptions for controlled substances that had no legitimate medical purpose; (2) ignored evidence that its stores were dispensing illegal prescriptions and intentionally deleted internal notes about suspected prescribers written by affected pharmacists; (4) violated the Controlled Substances Act by knowingly filling unlawful controlled substance prescriptions; and (5) violated the False Claims Act when claiming reimbursement from government healthcare programs.

Investors began learning the truth on March 13, 2023, when the US Department of Justice announced that it had filed a lawsuit against Rite Aid alleging that the company knowingly filled hundreds of thousands of illegal controlled substance prescriptions and knowingly provided false ones or have submitted fraudulent reimbursement claims for such prescriptions to federal health programs. The DOJ alleges that these activities violate the Controlled Substances Act and the False Claims Act, noting in part: “[w]making millions of dollars doing it [Rite Aid] opened the floodgates for millions of opioid and other controlled substance pills to pour out illegally [its] stores.”

This message sent the price of Rite Aid…