LOS ANGELES, CA / ACCESSWIRE / October 24, 2022 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Rite Aid Corporation ("Rite Aid" or "the Company") (NYSE:RAD) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Rite Aid announced a $252.2 million charge for the impairment of goodwill related to its Elixir subsidiary on September 29, 2022. The Company's CFO later explained the impairment was caused by its changing estimate of the lives covered by Elixir for 2023. Based on this news, shares of Rite Aid fell by more than 28% on the same day.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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Contacts:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
[email protected]
www.schallfirm.com
SOURCE: The Schall Law Firm