RAD SHAREHOLDER ALERT: Jakubowitz Law Reminds Rite Aid Shareholders of a Lead Plaintiff Deadline of May 19, 2023

NEW YORK, May 5, 2023 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Rite Aid Corporation (NYSE: RAD).

To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/rite-aid-class-action-loss-submission-form/?id=38875&from=4

The lawsuit seeks to recover losses for shareholders who purchased Rite Aid between April 26, 2018 and March 13, 2023.

Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until May 19, 2023 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

According to a filed complaint, Rite Aid Corporation issued materially false and/or misleading statements and/or failed to disclose 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.

Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887

SOURCE Jakubowitz Law

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