SAN DIEGO, Oct. 24, 2022 (GLOBE NEWSWIRE) — Robbins Geller Rudman & Dowd LLP announces that it has become a buyer or acquirer of Rite Aid Corporation WHEEL Securities between April 14, 2022 and September 28, 2022, both dates inclusive (the “Collection Period”), have until December 19, 2022 to request appointment as lead plaintiff in the proceeding rite aid class action. Titled Page against Rite Aid CorporationNo. 22-cv-04201 (ED Pa.), in the class action lawsuit, alleges Rite Aid and certain of its top executives of violating the Securities Exchange Act of 1934.

If you have suffered significant losses and are the main plaintiff in the rite aid Class action, please provide your information here:

https://www.rgrdlaw.com/cases-rite-aid-corporation-class-action-lawsuit-rad.html

You can also contact a lawyer JC Sanchez of Robbins Geller by phone at 800/449-4900 or email [email protected].

CASE CLAIMS: Rite Aid operates in two segments, Retail Pharmacy and Pharmacy Services. Rite Aid’s Pharmacy Services segment provides an integrated suite of pharmacy benefit management (“PBM”) offerings, including through Rite Aid’s Elixir subsidiary, including technology solutions, mail delivery services, specialty pharmacies, network and rebate management, claims adjudication and rebate programs for pharmacies.

That rite aid The class action alleges that during the class period, the defendants failed to disclose: (i) despite allegations to the contrary, the number of new members (ie, “Life”), which the Elixir PBM services business added during the sales season ending January 1, 2023, was in a material decline; and (ii) Rite Aid would likely recognize a significant goodwill impairment charge related to Elixir due to a decrease in the “lives” covered by Elixir’s PBM service business.

On September 29, 2022, Rite Aid announced a $252.2 million charge for the impairment of goodwill related to Rite Aid subsidiary Elixir. On a…