NEW ORLEANS, April 17, 2015 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until June 9, 2015 to file lead plaintiff applications in a securities class action lawsuit against Walgreen Co. (now trading as NasdaqGS: WBA) if they purchased the Company's securities between the expanded period of March 25, 2014 and August 5, 2014, inclusive (the "Class Period"). This action is pending in the United States District Court for the Northern District of Illinois.
What You May Do
If you purchased shares of Walgreen and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by June 9, 2015.
About the Lawsuit
Walgreen and certain of its executives are charged with failing to disclose material information regarding Walgreen' business and prospects, including the purported benefits of Walgreen's strategic partnership with Alliance Boots GmbH. during the Class Period, violating federal securities laws.
On August 4, 2014, Walgreen announced that the Company's Chief Financial Officer would be resigning. Then, on August 6, 2014, defendants lowered its fiscal year 2016 EBIT target to $7.2 billion, $1.8 billion to $2.3 billion below the range that the Company had previously announced to investors.
On this news, the price of Walgreen's shares plummeted by over 14%.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
206 Covington St.
Madisonville, LA 70447
SOURCE Kahn Swick & Foti, LLC