Walgreens Boots Alliance Provides Summary Notice of Pending and Proposed Settlement of Shareholder Derivative Action

Rhea-AI Summary

Walgreens Boots Alliance, Inc. has provided a summary notice regarding a pending and proposed settlement of a shareholder derivative action. The action was brought on behalf of the company and involves various defendants. A hearing will be held to determine the approval of the settlement, including attorneys' fees and expenses. Shareholders are encouraged to review the detailed notice and have the opportunity to comment on the settlement.

DEERFIELD, Ill.--(BUSINESS WIRE)-- Walgreens (Nasdaq: WBA):

UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF ILLINOIS
EASTERN DIVISION

VLADIMIR GUSINSKY REVOCABLE TRUST, Derivatively on Behalf of WALGREENS BOOTS ALLIANCE, INC.,   Plaintiff,   v.   STEFANO PESSINA, JOSE E. ALMEIDA, JANICE M. BABIAK, DAVID J. BRAILER, WILLIAM C. FOOTE, GINGER L. GRAHAM, JOHN A. LEDERER, DOMINIC MURPHY, LEONARD D. SCHAEFFER, NANCY M. SCHLICHTING, and JAMES A. SKINNER,   Defendants, and   WALGREENS BOOTS ALLIANCE, INC., a Delaware Corporation,   Nominal Defendant.

Case No. 23-cv-15654   SUMMARY NOTICE

SUMMARY NOTICE OF PENDENCY AND PROPOSED SETTLEMENT OF
SHAREHOLDER DERIVATIVE ACTION

TO: ALL PERSONS WHO OWNED SHARES OF THE COMMON STOCK OF WALGREENS BOOTS ALLIANCE, INC. (“WALGREENS” OR THE “COMPANY”) AS OF APRIL 10, 2024 (“WALGREENS SHAREHOLDERS”).

PLEASE READ THIS SUMMARY NOTICE CAREFULLY, YOUR RIGHTS WILL BE AFFECTED BY PROCEEDINGS IN THE LITIGATION.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23.1 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Northern District of Illinois (the “Court”), of (i) the pendency of the above-captioned shareholder derivative action (the “Action”), which was brought on behalf of and for the benefit of nominal defendant Walgreens; and (ii) a proposed settlement of the Actions (the “Settlement”), subject to Court approval, on the terms and conditions set forth in a Stipulation and Agreement of Settlement (the “Stipulation”) filed with the Court and available for review as indicated below. On June 18, 2024, at 8:50 a.m., a hearing (the “Settlement Hearing”) will be held before the Honorable Matthew F. Kennelly, at the U.S. District Court for the Northern District of Illinois, 219 South Dearborn St., Chicago, IL 60604, to: (a) determine whether the Settlement should be approved by the Court as fair, reasonable, and adequate; (b) determine whether the Court should enter the Judgment dismissing the Action with prejudice pursuant to the Stipulation; (c) determine whether to approve the agreed-to amount of attorneys’ fees and expenses to be paid to Plaintiff’s Counsel; (d) hear and determine any objections to the Settlement or to the fee and service awards; and (e) rule on such other matters as the Court may deem appropriate.

This is a summary notice only. A more detailed Notice of Pendency and Proposed Settlement of Shareholder Derivative Action and of Settlement Hearing (the “Notice”) that provides additional information concerning the Action, the terms of the proposed Settlement, and Walgreens Shareholders’ legal rights with respect to the proposed Settlement is being furnished to the Securities and Exchange Commission. You may also obtain a copy of the Notice, as well as a copy of the Stipulation, from Walgreens’s website, http://investor.walgreensbootsalliance.com.

If you owned shares of Walgreens common stock as of April 10, 2024 and continue to own such shares through June 18, 2024 (the date of the Settlement Hearing), you may, if you wish to do so, comment to the Court on the proposed Settlement and/or the amount of attorneys’ fees and service awards. Any objections to the proposed Settlement and/or the attorneys’ fees and service awards must be filed with the Court and delivered to counsel for Plaintiff and Defendants such that they are received by no later than June 4, 2024, in accordance with the instructions set forth in the Notice.

PLEASE DO NOT CONTACT THE COURT, THE CLERK’S OFFICE, OR WALGREENS REGARDING THIS NOTICE OR THE PROPOSED SETTLEMENT.

All questions about this notice or the proposed Settlement should be directed to the following counsel for Plaintiff:

Matthew T. Hurst, Esq. Heffner Hurst 30 N. LaSalle St., Suite 1210 Chicago IL 60602 (312) 346-3466 mhurst@heffnerhurst.com   By Order of the Court

About Walgreens

Walgreens (www.walgreens.com) is included in the U.S. Retail Pharmacy and U.S. Healthcare segments of Walgreens Boots Alliance, Inc. (Nasdaq: WBA), an integrated healthcare, pharmacy and retail leader. True to its purpose of “more joyful lives through better health,” Walgreens has a more than 120-year heritage of caring for communities and providing trusted pharmacy services, and today is playing a greater role as an independent partner of choice offering healthcare services that improve care, lower costs, and help patients. Operating nearly 9,000 retail locations across the U.S. and Puerto Rico, Walgreens is proud to serve nearly 9 million customers and patients daily. The company’s pharmacists are playing a more critical role in healthcare than ever before, providing a wide range of pharmacy and healthcare services, including those that drive equitable access to care for some of the nation’s most underserved populations. Walgreens offers customers and patients a true omnichannel experience, with fully integrated physical and digital platforms designed to deliver high-quality products and healthcare services. Within the U.S. Healthcare segment, Walgreens portfolio also includes businesses in primary care, multi-specialty, post-acute care, urgent care, specialty pharmacy services, population health and provider enablement.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240501103679/en/

Matthew T. Hurst, Esq.

Heffner Hurst

(312) 346-3466

mhurst@heffnerhurst.com

Source: Walgreens Boots

FAQ

What is the PR about?

The PR is about a pending and proposed settlement of a shareholder derivative action involving Walgreens Boots Alliance, Inc.

When is the Settlement Hearing scheduled?

The Settlement Hearing is scheduled for June 18, 2024.

Where can shareholders obtain more information about the settlement?

Shareholders can obtain more information from Walgreens's website at http://investor.walgreensbootsalliance.com.

How can shareholders comment on the proposed Settlement?

Shareholders who owned shares of Walgreens common stock as of April 10, 2024, and continue to own such shares through June 18, 2024, may comment to the Court on the proposed Settlement.