Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against Rite Aid Corporation (“Rite Aid” or the “Company”) (NYSE: RAD) in the United States District Court of Eastern Pennsylvania on behalf of all persons and entities who purchased or otherwise acquired Rite Aid securities between April 14, 2022 and September 28, 2022, both dates inclusive (the “Class Period”). Investors have until December 19, 2022 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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On September 29, 2022, Rite Aid announced a $252.2 million charge for the impairment of goodwill related to the Company’s Elixir subsidiary. On an earnings call held later in the day, Rite Aid’s Chief Financial Officer, Matt Schroeder, explained that the large impairment charge was triggered by a change in Rite Aid’s estimate of lives covered by Elixir for 2023 based on the latest selling season.
On this news, Rite Aid’s stock price fell $1.97 per share, or 28.02%, to close at $5.06 per share on September 29, 2022.
If you purchased or otherwise acquired Rite Aid shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at email@example.com, telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.