Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Northern District of Illinois on behalf of purchasers of Walgreens Co. (“Walgreens” or the “Company”) (NASDAQ:WBA) between March 25, 2014 and August 5, 2014, inclusive (the “Class Period”).

If you are a member of the Class described above, you may move the Court no later than June 9, 2015, to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at (310) 201-9150, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

The complaint alleges that during the Class Period, defendants issued false and misleading statements and/or failed to disclose adverse information regarding the purported benefits of Walgreens’ strategic partnership with Alliance Boots GmbH. Specifically, defendants publicly announced goals for fiscal year 2016 of $1 billion in combined synergies and $9.5 billion in adjusted earnings for the combined entity, but concealed a nearly $2.3 billion fiscal year 2016 earnings shortfall.

Then on August 4, 2014, Walgreens announced that its CFO, defendant Wade Miquelon, would be resigning. Two days later, on August 6, 2014, defendants lowered the fiscal year 2016 adjusted earnings target to $7.2 billion, $2.3 billion below the high-end of the range that they had previously announced to investors. Following these disclosures, Walgreens’ share price declined, falling from a close of $69.12 per share on August 5, 2014 to a close of $59.21, a drop of over 14% per share on August 6, 2014.

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