, we provide a cautionary discussion of the risks, uncertainties and possibly inaccurate assumptions relevant to our business. You are advised to consult any further disclosures we make on related subjects in our reports filed with the Securities and Exchange Commission (SEC) and with securities regulators in Canada on the System for Electronic Document Analysis and Retrieval (SEDAR). We do not undertake any obligation to update our forward-looking statements after the date of this document for any reason, even if new information becomes available or other events occur in the future, except as may be required under applicable securities law. of this report "Risk Factors", supplement, and as otherwise enumerated herein, could affect our future financial results and could cause our actual results to differ materially from those expressed in forward-looking statements contained or incorporated by reference in this document. Investors should note that many factors, as more fully described in Part I, Item 1A. Because these statements reflect our current views concerning future events, these forward-looking statements involve risks and uncertainties. We have based these forward-looking statements on our current expectations and projections about the growth of our business, our financial performance and the development of our industry. We have tried, whenever possible, to identify such statements by words such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plan,” “projected,” “forecast,” “will,” “may” or similar expressions. Forward-looking statements include the information concerning our possible or assumed results of operations. These statements, including estimates of future revenues, future expenses, future net income and future net income per share, contained in the section titled “ Management’s Discussion and Analysis of Financial Condition and Results of Operations ,” which is included in this document, are subject to risks and uncertainties. Filing for bankruptcy would pause these legal actions and provide Rite Aid with a means to address them within a single framework, the WSJ added.Īccording to the drugstore chain's last earnings report released in June, Rite Aid's revenue declined by nearly 6% and experienced a net loss of $306.7 million - almost triple from $110.2 million for the same period a year prior.Statements contained or incorporated by reference in this document contain information that includes or is based on “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Rite Aid has denied the allegations and sought the dismissal of the department's lawsuit. Additionally, the Justice Department has filed a civil lawsuit, alleging negligence in handling opioid prescriptions and violations of the False Claims Act and Controlled Substances Act. Now, Rite Aid is facing over a thousand federal lawsuits, consolidated in Ohio, along with multiple state court cases that accuse the company of contributing to the opioid epidemic. The pending bankruptcy filing follows a period of difficulties for Rite Aid over the past five years, including store closures (145 last year alone) and unsuccessful attempts at mergers with competitors like Walgreens and Albertsons in 20, respectively.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |