Walgreen Shareholders Sue Over $80M DEA Payout

Law360, New York (August 1, 2013, 6:52 PM EDT) -- A group of pension funds hit Walgreen Co. with a shareholder derivative suit in Illinois federal court Wednesday alleging the pharmacy giant's board of directors failed to take appropriate action to halt improper sales of prescription painkillers and avoid an $80 million fine from the Drug Enforcement Agency.

The shareholders — a handful of pension funds including the West Palm Beach Police Pension Fund and Steamfitters Local 449 Retirement Security Fund — claim that the company’s $80 million payout to the DEA will negatively impact Walgreen’s...
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