RITE AID ALERT: Bragar Eagel & Squire, PC Announces Class Action Lawsuit Has Been Filed Against Rite Aid Corporation and Urges Investors to Contact the Company | Biden News

RITE AID ALERT: Bragar Eagel & Squire, PC Announces Class Action Lawsuit Has Been Filed Against Rite Aid Corporation and Urges Investors to Contact the Company

 | Biden News

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NEW YORK–(BUSINESS DATE)–Bragar Eagel & Squire, PC, a nationally recognized shareholder 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 State District Court of Eastern Pennsylvania on behalf of all persons and entities that 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 the main 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. During an earnings call held later in the day, Rite Aid 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 sales 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 stock and suffered a loss, are a long-time shareholder, have information, would like to learn more about these claims, or have questions about this announcement or your rights or interests with respect to these matters. , please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, by phone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.

About Bragar Eagel & Squire, PC:

Bragar Eagel & Squire, PC 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, derivatives and other complex litigation in state and federal courts across the country. For more information about the company, please visit www.bespc.com. Lawyer advertising. Previous results do not guarantee similar results.

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