Pomerantz Named Lead Counsel in Securities Suit Against Rite Aid

On Friday, June 16th, U.S. District Judge Kelley Hodge of the U.S. District Court for the Eastern District of Pennsylvania named Pomerantz LLP as Lead Counsel on behalf of the plaintiffs in In re Rite Aid Corporation Sec. Lit. no. 2:22-cv-04201. The case alleges that Rite Aid misled investors about the growth of its Elixir pharmacy benefit management program. With over 2,000 stores, Rite Aid is one of America’s largest pharmacies. In 2015, in order to compete with companies like Walgreens and CVS, Rite Aid purchased a pharmacy benefit management company called EnvisionRx, which they rebranded Elixir. Rite Aid leadership was positive about Elixir’s prospects.

Save the Date: Pomerantz Corporate Governance Roundtable 2023

Pomerantz’s next Corporate Governance Roundtable will be held in Rome, Italy on October 23, 2023. Speaking at the Firm’s first European roundtable will be the former British Prime Minister, the Right Honorable Sir Tony Blair. Pomerantz’s Roundtables gather institutional investors from around the world to share knowledge and engage with leading experts in the areas of corporate governance, ESG, regulatory policies, and other issues that affect the value of the funds they represent. With offices in New York, Chicago, Los Angeles, Paris, Tel Aviv – and most recently, London – Pomerantz is committed to serving its clients wherever they are based. Seating at Pomerantz’s 2023 Corporate Governance Roundtable is limited. To express interest in…