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Bronstein, Gewirtz & Grossman, LLC Notifies Shareholders of Rite Aid Corporation (RAD) Investigation

Tuesday, October 4, 2022 11:15 AM
Bronstein, Gewirtz and Grossman, LLC
https://www.bgandg.com/

NEW YORK, NY / ACCESSWIRE / October 4, 2022 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Rite Aid Corporation ("Rite Aid" or the "Company") (NYSE:RAD). Investors who purchased Rite Aid securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/rad.

Bronstein, Gewirtz and Grossman, LLC, Tuesday, October 4, 2022, Press release picture

The investigation concerns whether Rite Aid has violated federal securities laws.

On September 29, 2022, Rite Aid announced a $252.2 million charge for the impairment of goodwill related to the Company's Elixir subsidiary. On an earnings call held later in the day, Rite Aid's Chief Financial Officer, Matt Schroeder, explained that the large impairment charge was triggered by a change in Rite Aid's estimate of lives covered by Elixir for 2023 based on the latest selling season. On this news, Rite Aid's stock price fell $1.97 per share, or 28.02%, to close at $5.06 per share on September 29, 2022.

If you are aware of any facts relating to this investigation or purchasedRite Aid shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/rad. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.

Bronstein, Gewirtz & Grossman, LLC represents investors in securities fraud class actions and shareholder derivative suits. The firm has recovered hundreds of millions of dollars for investors nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Nathanson
212-697-6484 | [email protected]

SOURCE: Bronstein, Gewirtz & Grossman, LLC

Topic:
Class Action
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