Walgreens signs $105 million deal to end investor lawsuits over merger

By Emilie Ruscoe (June 24, 2022, 9:54 p.m. EDT) — Drugstore chain Walgreens and two of its former executives have agreed to pay $105 million to shut down investor claims that the company touted overly optimistic financial projections as it sought shareholder approval of its plan to complete the acquisition of Swiss pharmacy chain operator Alliance Boots GmbH.

In a proposed settlement agreement filed Thursday in federal court in Chicago, Walgreen Co. investor Industriens Pensionsforsikring A/S told U.S. District Judge Sharon Johnson Coleman that the settlement was the result of mediation and had involved well-informed and independent negotiations, noting that the agreement was only reached after “more than seven years of highly contested and vigorous activity…

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Valerie J. Wallis