Walgreen Beats Shareholder Suit Over Analyst Report

Law360, New York (October 1, 2010, 7:20 PM EDT) -- Walgreen Co. has won the dismissal of a putative shareholder class action alleging it artificially inflated its stock price by making misleading statements to an analyst about the company's revenues from sales of generic drugs.

Judge Joan B. Gottschall of the U.S. District Court for the Northern District of Illinois threw out the case with prejudice on Wednesday, saying the plaintiffs failed to submit a viable complaint even though they had numerous chances to amend their pleadings.

The plaintiffs based their allegations on an analyst report...
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