RAD LAWSUIT ALERT: Levi & Korsinsky Notifies Rite Aid Corporation Investors of a Class Action Lawsuit and Upcoming Deadline

NEW YORK, May 4, 2023

CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Rite Aid investors who were adversely affected by alleged securities fraud between April 26, 2018 and March 13, 2023. Follow the link below to get more information and be contacted by a member of our team:

https://zlk.com/pslra-1/rite-aid-lawsuit-submission-form?prid=38675&wire=4

RAD investors may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.

CASE DETAILS: The filed complaint alleges that defendants made false statements and/or concealed that: (1) until at least June 2019, Rite Aid filled at least hundreds of thousands of unlawful prescriptions for controlled substances that lacked a legitimate medical purpose, including for potentially lethal opioids such as oxycodone and fentanyl; (2) Rite Aid pharmacists filled these prescriptions despite clear "red flags" that indicated that the prescriptions were unlawful; (3) Rite Aid ignored evidence that its stores were dispensing unlawful prescriptions, and intentionally deleted internal notes about suspicious prescribers written by concerned pharmacists; (4) by knowingly filling unlawful prescriptions for controlled substances, Rite Aid violated the Controlled Substances Act and, where Rite Aid sought reimbursement from federal healthcare programs, also violated the False Claims Act; (5) as a result, it was at risk of prosecution by federal authorities such as the United States Department of Justice; and (6) as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times.

WHAT'S NEXT? If you suffered a loss in Rite Aid during the relevant time frame, you have until May 19, 2023 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.