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...
To view the full article, register now.




Case Information

Case Title

Steamfitters Local #449 Retirement Security Fund et al v. Skinner et al

Case Number



Illinois Northern

Nature of Suit

160(Contract: Stockholders Suits)


Honorable Joan H. Lefkow

Date Filed

July 31, 2013

Law Firms


UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.